Region’sfirms ‘are inspiring Britain’

SEVENTY five Yorkshire firms have earned a place on a list of Britain’s 1,000 most inspiring companies, which has been compiled by the London Stock Exchange (LSE).

The LSE report, which is backed by the three major political parties, identifies the fastest-growing and most dynamic small and medium-sized businesses in the UK.

The study shows that the UK is in the grip of a digital revolution, although manufacturing firms are still playing a significant role in generating growth.

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IT firms were the top performers on the list, achieving average annual revenue growth of 350 per cent between 2010 and 2014. In Yorkshire, the list includes a family-owned business that stops food from being wasted, a manufacturing firm that dates from the 1930s and a telecoms company that helps students communicate.

Christopher Bovis, a professor of international and European business law at Hull University Business School, said: “This is a great achievement for Yorkshire enterprise, and has positive implications for the region.

“Investor awareness will be enhanced and strategic and corporate alliances will be easier to accomplish.”

Professor Bovis said this competitive advantage could help Yorkshire companies to achieve their global potential.

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He added: “These 75 Yorkshire companies will act as an inspiration for other new, fast-growing and dynamic businesses in the region. It is great news for Yorkshire and is a reason for confidence for the future.”

The 75 firms from Yorkshire include The Company Shop, which is based in Barnsley, South Yorkshire. In 2013, the Community Shop, which is a subsidiary of Company Shop, opened Britain’s first “social supermarket” to help families struggling to feed themselves.

Also featured on the list is ASK4, which delivers wifi and broadband services to student accommodation buildings, private residential developments and serviced offices from its headquarters in Sheffield.

Spooner Industries from Ilkley, West Yorkshire, which was established in 1932, and manufactures industrial process machinery such as industrial ovens, also ranks among the “inspiring 1,000”.

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Mike Brook, Spooner’s managing director, said the firm was very proud to be described as one of the UK’s most vibrant companies.

He added: “This and the recent opportunity to showcase our business to the Prime Minster and Chancellor will resonate within the company for a long time to come and is testament to the innovation and technology developed here at Spooner.”

The £30m turnover company has 150 staff and is on the hunt for extra space. Seventy five per cent of the 1,000 firms on the list are from outside London, and 25 per cent of the companies operate in the manufacturing, construction and engineering sectors.

Writing in the publication – 1,000 Companies to Inspire Britain – the Chancellor George Osborne said: “This is a remarkable list of outstanding companies. These businesses have been built by the drive, commitment and vision of Britain’s entrepreneurs and business leaders.”

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The report is also supported by Shadow Business Secretary Chuka Umunna.

Business Secretary Vince Cable added: “These 1,000 exemplary businesses show how SMEs punch above their weight – more than doubling their revenue over the past four years to deliver growth and create jobs across the UK.”