All hail the unsung heroes of the UK economy

Small, entrepreneurial firms across the UK have always been the unsung heroes of the UK economy.
Marcus Stuttard, Head of UK Primary Markets and AIM, London Stock ExchangeMarcus Stuttard, Head of UK Primary Markets and AIM, London Stock Exchange
Marcus Stuttard, Head of UK Primary Markets and AIM, London Stock Exchange

However, with Government data showing that SMEs account for around 60 per cent of employment and over 50 per cent of turnover in the UK private sector, these companies really are the backbone of the UK economy and deserve their time in the spotlight.

Sharing the stories and impact of the great businesses we all deal with on a day-to-day basis is an important way to show our support, especially crucial as we continue to navigate the impact of the Covid-19 pandemic.

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This is why London Stock Exchange Group is proud to publish its ‘1000 Companies to Inspire Britain’ report. Now in its seventh edition, the report identifies the UK’s most dynamic and fastest-growing businesses. The featured companies showcase the resilience and innovation within these businesses, highlighting the remarkable and truly inspiring companies across Britain.

This year’s report showcases regional and sector diversity. The top five industries represented by this year’s companies are led by engineering & construction, manufacturing, food & beverages, retail and technology.

London and South East England continue to contribute the greatest number of companies, followed by East of England, North West England, and Yorkshire and the Humber.

Yorkshire and the Humber stands out in the report for a number of reasons. 86 companies from the region feature in the report and with an annual average revenue growth rate of 37.6 per cent, Yorkshire and Humber is one of the top five performing regions in the UK, generating £4.1bn in total turnover. This growth feeds directly back into employment - with featured companies in the region creating almost 4,000 jobs in the two years to December 2019.

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While many of the companies featured in this year’s report are facing challenges due to the Covid-19 pandemic, many have adapted their businesses to help mitigate the impact. For example, Rotherham based Bluetree Group was the first company in England to produce Meltblown, a filtration layer used in personal protection equipment.

Sheffield based Gripple, a producer of wire joiner and tensioners, and wire rope suspension systems, began to manufacture Perspex protective screen kits and protective visors to issue for free to key workers and to further supplement sales.

In this challenging year for businesses, it is vital to make sure that companies have the ongoing access to the capital they need to maintain a healthy balance sheet in times of uncertainty and helping them access the capital they need to fund their operations through the pandemic.

Across London Stock Exchange, more than £39bn in capital has been raised so far this year, including £34.8bn by companies returning to the public markets to strengthen their balance

sheets and fund future growth.

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From technology to leisure, companies have accessed London’s markets to raise capital, including new public offerings from innovative UK companies such as The Hut Group (THG) and Calisen. Public markets have also supported the healthcare sector, with 47 London listed companies raising almost £2.5bn in equity capital so far this year.

The ability for companies to repeatedly come back to the market to raise capital showcases the platform that capital markets can provide for efficient and ongoing access to permanent capital for a company across all stages of its growth.

Supporting the UKs growth businesses is beneficial for both local employment and local economies. London Stock Exchange Group remains committed to supporting growth companies to achieve their potential and playing our part in helping them succeed and, as we look towards rebuilding a post Covid-19 economy, it is more important than ever to share their stories of resilience and entrepreneurship.

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