The report celebrates of some of the fastest-growing and most dynamic small and medium sized enterprises (SMEs) in the UK. As well as identifying 1,000 companies, the publication 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.
The research paints a vibrant picture of the British economy, as well as dispelling certain myths: manufacturing, for example, accounts for almost a fifth of the companies within the index. The UK’s technology is in very good shape, with 105 tech firms making the list of 1,000. Over 100 sectors in total are represented; from architecture and automotive, to venture capital and wine, with companies from across every region of the UK.
Greater London accounts for 267 companies out of the 1,000, with the remainder spread evenly across the country. South East England and North West England are separated by just 18 companies with a number of regional hubs being highlighted in the report.
Global demand for the latest gadgets and devices is powering the British tech industry and creating big opportunities for digital businesses with bright ideas.
The tech industry is set for huge growth in the next five years, creating up to 750,000 new jobs in a market that already employs 1.5 million workers. The LSE report demonstrates, the UK has one of the world’s most vibrant digital economies, touching every sector and reaching all regions – dispelling the myth that it comprises just tiny start-ups or is dominated by a few high-tech clusters such as level 39. Digital innovation has helped most entrepreneurs, re-imagine the current world.
Joanna Shields, CEO of Tech City Investment Organisation (TCIO), said: “In the last three years, a large number of policy changes have ensured businesses, and high-growth tech businesses in particular, can flourish in the UK. The result is that we now have one of the world’s most ambitious packages of incentives and policies for entrepreneurs and their investors”.
World-changing technologies pioneered by the companies in the LSE report has transformed and disrupted industries, such as Financial Services and Manufacturing whilst solving some of the some of the most pressing problems of our times.
Xavier Rolet, CEO of the London Stock Exchange Group, believes the UK has some of the most inspiring growth businesses in the world. “Our report showcases some of these fast-growing and dynamic companies; the type of companies we believe will help fuel the long-term growth of the UK economy,” he said. “Working with the Government and the wider financial community, we need to foster an ecosystem that promotes the right type of funding for businesses at each stage of their journey, so that together, we can drive our own prosperity,” he commented.
Focussing on innovation the report highlighted the fact that the UK remains a ‘cradle for new ideas’ driven by world-class universities, regional hubs and the creativity of entrepreneurs. In the past three years, the UK’s most innovative companies grew on average 50% faster than the least cutting-edge businesses. To be considered for inclusion in the report, companies had to meet a range of criteria. These included being UK based, having a turnover of between £6-250m in the last 12 months and a minimum of three years in operation.
You can read the whole report and peruse the 1,000 companies here.
Hayden Richards is Contributor of IntelligentHQ. He specialises in finance, trading, investment, and technology, with expertise in both buy-side, sell-side. Contributing and advising various global corporations, Hayden is a thought leader, researching on global regulatory subjects, digital, social media strategies and new trends for Businesses, Capital Markets and Financial Services.
Aside from the articles, interviews and content he writes for IntelligentHQ, Hayden is also a content curator for capital markets, analytic platforms and business industry emerging trends. An avid new media explorer Hayden is driven by a passion for business development, innovation, social business, Tech Trading, payments and eCommerce. A native Trinidadian, Hayden is also a veteran, having served with the Royal Air Force Reserves for the past 10 years.
Follow Hayden on Twitter @HaydenARichards, linkedin.com/haydenhrichards and http://www.scoop.it/u/hayden-richards