East of England features strongly in ‘1000 Companies to Inspire Britain 2018’
One hundred and three East of England companies are named in London Stock Exchange Group’s '1000 Companies to Inspire Britain' report, an increase of three percent compared to 2017. Companies from the region have an average annual revenue growth rate of 103 per cent, more than 30 per cent above the UK national average.
This year’s report in numbers:
- Companies’ revenue growing at an exceptional average rate of 71% on average, continuing previous year’s rate of 70%, despite strong economic headwinds
- All UK regions represented, with 60% of companies from outside London and the South East
- 34% of companies are from the Northern Powerhouse and Midlands Engine regions
- Companies in the North West are the fastest growing with 232% annual average revenue growth
- Report features companies in both traditional industries and more recent economic success stories; largest sector represented is Engineering and Construction with 132 companies, followed by Information Technology with 72 companies
- Financial Services is one of the fastest growing sectors with an average annual revenue growth rate of more than 461%, followed by Engineering and Construction at 109%
- Five companies have featured in the ‘1000 Companies to Inspire Britain’ report series over the past five years
The Rt Hon Philip Hammond MP, Chancellor of the Exchequer: “Small businesses are the backbone of the British economy with a combined annual turnover of £1.9 trillion and employ 60% of private sector workers outside of London. That’s why, whether they are family run firms or tech start-ups, we are supporting high growth SMEs to achieve their potential.”
Nikhil Rathi, CEO, London Stock Exchange Plc: “We warmly congratulate all of the companies identified in this year’s ‘1000 companies to Inspire Britain’ report. Five years on, the report continues to demonstrate the strength and diversity of British businesses across the country. These dynamic companies are the backbone of our economy, playing an important role in the UK’s ability to innovate, export and grow.
“Growing at more than 30 per cent above the UK national average and with more companies in this year’s report compared to 2017, companies from the East of England are testament to the entrepreneurial spirit and economic and job creating potential of businesses the region. Policy makers must continue to increase access to growth capital for these firms, which would in turn benefit the wider UK economy.”
Cambridge Network members in the East of England list include Amino Technologies and Horizon Discovery.
The report series continues to receive cross-party support from leading politicians including The Rt Hon Theresa May MP, The Prime Minister of the United Kingdom, The Rt Hon Nicola Sturgeon MSP, The First Minister of Scotland, and Jonathan Reynolds MP, Shadow Economic Secretary to the Treasury, all of whom contributed commentary to the report.
A full searchable database of all of the companies along with a downloadable pdf of the publication can be found online at www.1000companies.com
The report is generously supported by BGF, Cenkos and the British Business Bank. DueDil is LSEG’s research partner for the report.
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