- 16th April 2018
- Posted by: Manolis
Britain’s fastest-growing companies are getting bigger faster, with the pace of expansion accelerating to 70pc, up from an average of 50pc a year ago.
The findings come in the London Stock Exchange Group’s (LSE) annual round-up of the 1,000 most dynamic small and medium-sized enterprises in the UK which is being launched on Wednesday.
Four years on from the bourse’s first 1,000 Companies to Inspire Britain analysis, the report reveals that businesses from the whole spectrum of sectors are represented.
That faddish industries are not dominating the report is a testament to the enduring nature and variety of British industry according to Xavier Rolet, chief executive of LSE.
“These companies are the very heart of an ‘anti-fragile’ economy: more robust; more flexible and less prone to boom and bust,” he said.
“Their strength and diversity is readily apparent with a broad mix represented. We must continue doing all we can to support high growth potential businesses like these dynamic, entrepreneurial and ambitious businesses which are boosting productivity, driving economic growth and creating jobs.”
The engineering and construction sector is the best represented, with 134 companies from this area named in the report. Financial services is second, with 82 members.
Growing fastest on a sector basis is real estate, averaging growth above 100pc, with engineering and construction, financial services, marketing and advertising not far behind with growth rates averaging above 90pc.
On a geographical basis, SMEs in Scotland are expanding the quickest, with revenue rising at an average of 91pc.
However, the London and the South East continue to dominate the list, with the two regions home to 285 and 119 constituents of the top 1,000, respectively.
Business Secretary Greg Clark congratulated the companies who made the list, adding: “Championing high growth, innovative SMEs is crucial for the continued success of the UK economy. 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.”