Birmingham could become an ideal region for Brits with private wealth to invest

Brits with private wealth may like to consider investing in businesses in Birmingham, as a new Enterprise Zone will be set up in the region.

Last week, the government announced that its previous Enterprise Zones, which were launched in March 2011, were performing well and had boosted local economic growth.

Now, four more Enterprise Zones will be created in Birmingham, Bristol, Leeds and Sheffield.

These areas will therefore benefit from discounts on business rates, lower levels of planning control, superfast broadband and the potential to use enhanced capital allowances.

As a result, businesses and individuals with private wealth may want to invest in companies in Birmingham as they will be able to take advantage of these benefits.

Prime minister David Cameron said: "It won't be ministers in Whitehall who can drive this growth; it will be those with the great business idea who are ready to start up, the entrepreneurs who want to grow their company, the businesses looking to expand into new markets."

So far, 21 Enterprise Zones have been created in the UK, in places including Greater Manchester and Nottinghamshire.

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