Although life returned to some form of normality for the business world in 2022 as the covid lockdowns ceased, many companies are now facing up to the ongoing pressures caused by rising energy and fuel bills.
This is coupled with the impact on discretionary spending among consumers caused by the cost-of-living crisis. Despite this, the West Midlands continues to be a hotbed of innovation and business excellence and the region has much to look forward to this year.
Here, we have once again canvassed the opinions of experts from across the West Midlands as to who are the Ones to Watch in 2023.
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And if you want to check our previous Ones to Watch, you can see stories here from 2021 and 2022.
carbonTRACK
Cementing the West Midlands' position as the 海角视频's entrepreneurial heartland and fastest-growing regional tech cluster, Birmingham Tech Week in October saw six fast-growth companies announcing their investment into the region. Among them was Australian smart energy and internet-of-things solutions company carbonTRACK.
In 2019, our low-carbon infrastructure, world-class universities and transport connectivity convinced carbonTRACK to base its 海角视频 headquarters in Birmingham.
Since then, our supportive tech ecosystem and specialist low-carbon talent have enabled the business to grow rapidly. Through its unique energy digitisation platform, carbonTRACK is supporting the region's SME manufacturers to survive the energy crisis by optimising their energy usage.
Neil Rami, chief executive of West Midlands Growth Company
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Elevate Property Group
Despite the turbulent residential property marketplace in 2022, Elevate Property Group has continued to expand and live up to its growing reputation as one of the Midlands' leading independent developers.
Led by Steve Dodd, the company has recently completed and sold out one of its largest-ever projects at Victoria Point in Ashford and finished the transformation of Priory House in Birmingham and Trent Bridge Quays in Nottingham.
It is also nearing completion of Heaton House in the Jewellery Quarter, with works progressing well at Gunsmith House in Birmingham and the second phases of both Trent Bridge Quays and Princes Gate in Solihull.
It has made a commitment to deliver all new projects to the highest standards for external walls and cladding while focusing on post-covid living by creating exceptional communal spaces, living and home-working environments. Further developments in 2023 include The Silk Yard in Derby and Chapmans Yard in Birmingham, with several senior appointments to support ambitious development plans.
Joe Shorney, head of Midlands at Savills 海角视频
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Our one to watch for 2023 is Embed which designs original electronic and software components for the automotive industry and has also moved into the white goods market. It is a Queen's Award winner and a major exporter of products to a range of countries around the world.
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It was initially founded from the collapse of MG Rover but has gone from strength to strength and has recently launched its own products which facilitate the design and production of electronic control units. We can see big things on the horizon for the company in the years ahead.
Mark Tock, chief operations officer at University of Warwick Science Park
Get-Found
Get-Found is a black-owned, Birmingham-based digital marketing agency, specialising in SEO, paid ads, social media management and digital PR.
Since starting out in 2019, it has built a roster of clients from a range of sectors including retailer Blinds Direct Online, dental groups and Nylah's Naturals, the Birmingham haircare brand that appeared on Dragons' Den.
Founded by Alex Davis and Jason Jackson, they have quickly taken Get-Found to new heights.
Alongside excellent service, the agency emphasises employee wellbeing and personal development, working closely with the community to create job opportunities for graduates from diverse backgrounds. The business has grown to employ 14 people in just two years.
Harinder Kunor, West Midlands local enterprise manager with NatWest
Kenmoore Design
Kenmoore Design is an award-winning architectural practice which designs and constructs buildings in a wide range of sectors from residential including new builds to commercial, ranging from education to healthcare.
The business, which was launched by managing director Andy Miles in 2018, employs 25 people from its base in Alcester to serve clients throughout the 海角视频.
Kenmoore Design is rapidly growing, posting sales of £625,000 in 2020 which rose to £2.3 million last year and £3.6 million this year. The coming year is looking bright, with contracts totalling £12 million secured and the plan is to reach £30 million in the next two years.
Craig Humphrey, managing director of the Coventry and Warwickshire Local Enterprise Partnership Growth Hub
Premier Health Products
Coventry and Warwickshire have so many exciting, growing businesses across a whole range of sectors and Premier Health Products is one to watch in 2023.
The Coventry vitamin and supplement manufacturer was presented with the Queen's Award for International Trade for a second time recently after hugely increasing its exports. For me, this shows the extremely high standards it has set for itself as a business.
It's exporting to 27 different countries from a £3 million base it opened in the city and is continuing to invest in machinery and people.
The company looks set to build on that success in 2023 and continue to be a positive contributor to the economy of the region.
Corin Crane, chief executive of Coventry and Warwickshire Chamber of Commerce
Pull the Pin
Birmingham's creative and digital scene received a welcome boost in 2022 with the emergence of Pull the Pin.
Led by marketing expert Sam Hufton and celebrity magician and content creator Ben Hanlin, the digital marketing and video agency is on the verge of passing £1 million in fees after a hugely successful second year.
This has seen the company win prestigious new contracts with Mazars, Millennium Point, MAN Commercial Protection and England Golf while the team has grown from eight at the start of 2022 to 18. An office move to 103 Colmore Row has laid the foundations for another busy 12 months and will help Pull the Pin attract the talent it needs to achieve its target of doubling turnover.
Sam and Ben are both passionate about their Birmingham roots and the agency's determination to make sure the city punches its weight in the 海角视频's national digital marketing scene should be welcomed.
Steve Hollis, former KPMG Midlands chairman and business mentor
Schumacher Packaging
E-commerce and logistics are booming in the region and with it has come a whole lot of need and opportunity for innovators in sustainable packaging.
Schumacher Packaging was originally founded as the family-owned Jaffabox back in 1946 and today it is part of the Schumacher Packaging group - and it is growing fast. An ambitious team is firmly focused on expansion and investment in the latest technologies.
The business has kept the balance of seeking growth and investment with retaining a local heart. It is proud to support Birmingham-based charities and a local workforce ranging from new apprentices to individuals with decades of service.
Henrietta Brealey, chief executive of Greater Birmingham Chambers of Commerce
Thatch & Stone
Founded in 2020 by Nirmla Warwood, Thatch & Stone is an interior accessories company based in Walsall. It is known for its beautifully designed and unique products such as wine racks and tableware for all aspects of a well-furnished home, with more recent items targeting how you can save money during the cost-of-living crisis.
Proving the value of adaptability and forward thinking, its team does not cut corners, with quality and utility being the cornerstone of every product.
Experiencing rapid growth this year where sales have increased by 57 per cent compared with 2021, it's a true success story for the region in a short amount of time. It's clear Nirmla and her team are looking to continue this trajectory and we expect its future to be bright.
Sophie Dale-Black, 海角视频 network director in the Midlands of British Business Bank