BDO has announced it will promote over 20 staff across all levels of its Midlands operation in the UK. The firm has been buoyed by the local economy in recent months, with almost 30,000 jobs having been created in the East Midlands alone over the last year.
The East and West Midlands generate more than a tenth of the UK’s GVA, with large stakes in both the manufacturing and services sector. The region hosts a large array of large global UK and international firms, and despite Brexit anxieties which continue to plague the UK, the region’s high levels of productivity means it has enjoyed a continued period of growth.
According to a recent study by BDO, small and mid-sized enterprises are thriving in the region, in turn meaning the demand for labour grew across the Midlands. According to the study, a total of 28,593 additional jobs came to the East Midlands alone in 2018, increasing by 6% to a total of 505,394 positions. 8,112 of the new jobs were found in smaller businesses, which constitutes an 8% rise on the previous year. At the same time, the eight FTSE 350 companies based in the East Midlands saw the need for 3,048 new roles in their firms – a more modest increase of 2%.
Commenting on the news, Andrew Mair, Head of BDO in the East Midlands, said, "The Economic Engine is vital to the growth of our regional economies and the East Midlands is no exception - despite the pervading uncertainty around Brexit, mid-sized businesses have continued to deliver growth, sustaining a thriving regional economy. These high-growth, entrepreneurially spirited businesses are the lifeblood of our economy and warrant significant attention from the government.”
In turn, this has led to the consulting industry looking to grow its presence across the Midlands. Last year, global professional services firm EY announced plans to triple its financial services team in the Midlands by 2020. PKF Cooper Parry and RSM were among those who ramped up their headcounts in the region, while property consultancy FHP launched its first West Midlands office.
BDO is itself one of the advisory and auditing firms looking to quickly bolster its capacity to tap into the region’s growth. BDO has promoted more than 20 staff in the Midlands across all levels and departments. Split evenly across the East and West Midlands, the promotions include five within the region's tax team, 14 in audit, and one in its transaction services practice.
On the growth of his firm in the Midlands, BDO Partner Mair added, "We are proud to be a part of, and to support the businesses that make up the Midlands Economic Engine, and want to see these businesses, which are at the heart of these regional powerhouses, thrive… The promotions are a testament to the hard work and commitment of the successful individuals which has directly contributed to helping achieve our on-going success as a growing team. These are the people who have consistently who have gone above and beyond expectations to deliver our commitment to clients.”