My colleague recently received an email from Claire Dorrian of the London Stock Exchange (who presented at this year’s Finance in Cornwall event) about the launch of their latest 1000 companies to inspire Britain report.
A number of South West businesses feature in the report and I share a few of the key findings below and would suggest anyone takes a few minutes to look at some or all of the report – it is, unsurprisingly, nicely compiled and easy to navigate by sector.
1000 companies to inspire Britain
1000 companies to inspire Britain is an annual celebration of some of the fastest-growing and most dynamic small and medium-sized enterprises (SMEs) in the UK. The report also examines in detail the opportunities and challenges facing SMEs and looks at the sectors and trends that will shape the future of the UK economy.
Some of the key findings
- The top five industries, accounting for 44% of the list, are engineering & construction, information technology, retail, manufacturing and healthcare. London and the South East continue to have the greatest number of companies, followed by the North West, East of England and the West Midlands
- Overall revenue growth of the companies featured in the report was 108%, up significantly from 70% last year
- Companies in this year’s report created 95,827 jobs over the past two-year period, a 39% increase compared to last year’s report
- A lack of awareness of the finance options available to growth companies has meant that too many entrepreneurs are scaling back their ambitions, rather than scaling up their businesses. More needs to be done to ensure companies across the UK are aware of their financing options and have access to both financial and non-financial support for their development
- High-growth companies aren’t just young scale-ups. According to The ScaleUp Institute, companies in existence for 10 to 15 years are most likely to be growing in excess of 80% per year, and those in existence for 20 years have higher revenues from exporting
I look forward to browsing the contents of the report more fully over the next few days, not only the company profiles, but also some of the forwards – by eminent business and political leaders, look very interesting.
The report and other related material, can be accessed here.
By Andrew James