Entrepreneurial Guide to Birmingham: A Booming Start-up Hub in the UK

Running head: A GUIDE THROUGH LONDON
A Guide through London
Name of the Student:
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A GUIDE THROUGH LONDON
Table of Contents
Introduction:....................................................................................................................................2
Entrepreneurship:.............................................................................................................................2
The start-up scenario in Birmingham:.............................................................................................3
Benefactors of entrepreneurial guide provided:..........................................................................5
Support opportunities and networks available in Birmingham:......................................................6
Case study example:........................................................................................................................7
Conclusion:......................................................................................................................................8
References:......................................................................................................................................9

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A GUIDE THROUGH LONDON
Introduction:
The entrepreneurial ventures usher a lot of benefits to the market. Entrepreneurial
ventures lead to generation of new employment opportunities in the market besides leading to
new product development. They also increase the revenue generation in a country and
encourages economic development. The governments of different countries to reap these benefits
of entrepreneurial ventures, provides them with financial support. The paper would present an
entrepreneurial guide to entrepreneurs who look forward to enter Birmingham in West Midlands,
the United Kingdom. The guide would point out the facilities which Birmingham can offer the
business ventures to encourage their growth.
Entrepreneurship:
Entrepreneurship refers to the process and starting of new business ventures in order to
earn profits. One can point out that as far as business contexts are concerned, entrepreneurial
startup businesses create new opportunities in the market. The entrepreneurs recognize new
business opportunities and business requirements in the market. They use the opportunities to
start new businesses by acquiring raw materials and human resources. Thus, in this context in
can be said that entrepreneurial ventures create new employment opportunities (Burns et al.,
2016). The entrepreneurs have the propensity to take risks which they encounter during the
course of establishing the businesses. One of the risks they face is limitation of available
financial resources which in fact limit their capability of acquiring human resources and
materials context and relevant concepts. However, start-up entrepreneurial ventures play a great
role in creating employment opportunities, revenue generation and economic development in the
economies. One can also note that some of the leading companies in the world like Google
started their journey as entrepreneurial start-ups. The entrepreneurs recognize new needs in the

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A GUIDE THROUGH LONDON
market which the present goods cannot fulfill. They use these gaps as opportunities to bring
about new product developments. There are several factors which factor development of
entrepreneurial ventures like availability of finance and availability of markets. The markets
provide opportunities to entrepreneurs sell their products which may be services or goods to earn
revenue (Bridoux and Stoelhorst 2014). The developed and emerging economies in the world
provide these opportunities to start-up entrepreneurial ventures which has led to emergence of
more of these ventures compared to poor economies. These emerging ventures in the developed
and developing markets have boosted their economic growth whereas dearth of such ventures
has limited the growth of underdeveloped markets. One such market which favours start-ups is
Birmingham, West Midlands in the United Kingdom (Toma et al. 2014).
The start-up scenario in Birmingham:
2010 2011 2012 2013 2014 2015 2016
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
Chart Title
West Midlands London
United Kingdom Percentage (West Midland : UK)
Percentage (London : UK)
Figure 1. Statistics hsowing sucess rate of Startups in Birmingham compared to the UK
(Source: data.london.gov.uk 2018)