By Martin Winter

Copyright dailystar

Manchester, Leeds and Oxford have been named some of the best places in the UK for business growth, according to a new report by NatWest and Beauhurst. The study looked at how well mid-sized companies are doing across the country, focusing on things like innovation, profits, staff numbers and sales. Manchester did especially well thanks to its busy creative and digital industries, helped by MediaCityUK and lots of new start-ups. Oxford stood out because of its research-based businesses, many of which started at the university before growing into larger companies. Meanwhile Leeds has become known for health technology, as well as its strong financial services, thanks to close links with NHS Digital and top hospitals. London is still the biggest centre for business profits, jobs and sales, but the report shows that other areas are catching up, especially when it comes to new ideas and innovation. Smaller places like Slough and Telford & Wrekin are also growing fast, and Swindon is becoming a leader in climate technology with its group of renewable energy and clean-tech companies. Andy Gray, managing director of commercial mid-market at NatWest said: “The UK’s economic story is no longer written only in its biggest cities. Across the country, mid-sized businesses are scaling up, investing in people and creating high-quality jobs. “These boom regions demonstrate that entrepreneurial energy and economic resilience can flourish anywhere.” The report also highlighted places like South Cambridgeshire, which has many businesses that started at the university, and Aberdeenshire, which is moving from oil and gas towards renewable energy and climate technology. Companies there are using their engineering skills and links to North Sea projects to help the area become a leader in the UK’s move to cleaner energy. The research focused on companies making between £25 million and £500 million a year. These mid-sized businesses provide over a quarter of UK jobs and nearly a third of the country’s economic value. The report says that with the right support, these companies could add £115 billion in sales and £35 billion in value to the economy by 2030, even though they make up only a tiny part of all UK businesses. Henri Murison, chief executive at The Northern Powerhouse Partnership, said: “While London remains an important location for mid-market businesses, this new report from NatWest clearly points to the impressive growth and innovation that is taking place in the North. “As the Autumn Budget approaches, we should be backing concrete steps towards adoption and diffusion of innovation in businesses that are seeking to scale up, providing more high skilled jobs in Northern towns and cities, and playing a fundamental part in delivering the UK Government growth mission.” Louise Hellem, chief economist at the CBI, said: “This report underlines the vital role the mid-market sector plays in driving regional growth and strengthening our economy. These businesses are not just surviving, they’re expanding, innovating, and investing in their communities. “To fully unlock the UK’s potential and develop high growth clusters, we should harness their strengths as part of regional growth plans, ensure they are engaged in shaping local skills plans and have greater access to finance to scale.”