The London Stock Exchange Group’s annual report, which identifies the fastest-growing and most dynamic SMEs across the UK, showed that most success stories came from the construction industry and identified real estate as he fastest growing sector.
Highlights from the report include:
- Data shows companies growing at 70% per year, up from 50% last year;
- Ambitious companies present across all UK regions, with 35% of companies from the Northern Powerhouse and Midlands Engine regions;
- Scottish companies are fastest growing with 91% annual average revenue growth.
Composition of companies demonstrates high growth in both traditional industries and more recent economic success stories; highest number of companies in engineering and construction sector with 134, followed by financial services with 82.
Real estate is the fastest growing sector with an average annual revenue growth rate of more than 100%, closely followed by engineering and construction at 91%.
Companies operating in engineering and construction, financial services and marketing and advertising all growing at an average of more than 90% per year.
The Rt Hon Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, said, “I want to congratulate the 1000 companies from across the UK featured in London Stock Exchange Group’s pioneering 1000 Companies to Inspire Britain report. Championing high growth innovative SMEs is crucial for the continued success of the UK economy and a country that works for everyone. We are committed to ensuring that companies of all sizes can access finance to grow, scale-up and create high quality well-paid jobs across the country.”
Xavier Rolet, CEO, London Stock Exchange Group, added, “Four years on, LSEG’s ‘1000 Companies to Inspire Britain’ report continues to highlight the dynamic, entrepreneurial and ambitious businesses across the country that are boosting UK productivity, driving economic growth and creating jobs. The strength and diversity of these companies is readily apparent with a broad mix of UK regions and sectors represented. These companies are the very heart of an ‘anti-fragile’ economy: more robust; more flexible and less prone to boom and bust. We must ensure we continue doing all we can to support high growth potential businesses like these.
“London Stock Exchange Group is fully committed to supporting and implementing initiatives which improve access to and cut the cost of finance for growing companies. We welcome the government’s focus on supporting SMEs as part of its Industrial Strategy and await the outcome of its review into long-term patient capital.”
PHOTO CREDIT: jam_90s