Lichfield is a small city, but one that offers a lot of potential. The wider Lichfield district has an impressive business start-up rate; currently 55 for every 10,000 residents over the age of 16. Not only is this a better rate than the rest of the Staffordshire region, but also the national average of 51.
The area's cost-effective commercial rents and great location and transport opportunities are just two reasons why businesses are thriving here. Lichfield district has a business survival rate of 62.6%, higher than both the rate for the county (61.6%), and the UK overall (58.2%).
While Lichfield has seen a decrease in the manufacturing sector, as is the trend with much of the UK, the city's other industries such as public administration, distribution and business services are all on the rise. Unemployment in the area has been consistently low in recent years, and there are a high number of jobs being created in these sectors especially.
Want to find out the specific companies turning over the biggest sums in Lichfield? Take a look at the list below.
MoreAs is shown in the list above, Lichfield has a varied economy. The local government has plans to fuel further growth across the district, by setting out a series of goals for 2020. These include increasing jobs, having more new and successful businesses, regeneration in the city centre and attract more visitors to the area.
The latter is likely to be particularly lucrative; tourism is already worth around £96 million to Lichfield, supporting a workforce of more than 2,300. Plans to increase tourism by 5% every year by 2020 have resulted in an estimated three million people visiting the district last year.
