What the report reveals about'¨the state of Britain's economy

The report, which is out today, said the 79 Yorkshire firms are growing at an average rate of 55 per cent a year, contributing strongly to the future growth of the region. The Yorkshire firms have outpaced the national average rate of growth, which stands at 50 per cent.

The winners include: York-based Continuum Attractions, the owner and operator of visitor attractions across the UK including the Coronation Street tour; Barnsley-based Company Shop, the largest re-distributor of surplus food stock in the country and pioneers of the first social supermarket in Britain and Wakefield-based Team17, a video games developer, best known for creating the Worms & Alien Breed video game series.

The report showed that the regions are catching up with the capital, with 78 per cent of the winning firms being headquartered outside London.

Juliana Delaney, chief executive of Continuum Attractions, said: “Our commercial success of the last few years is in no small part due to our successful partnerships with themed entertainment brand owners, particularly our work with ITV which brought a much loved soap on the new platform of a visitor attraction at Coronation Street The Tour in Manchester.

“We are very proud to have been based in the Northern Powerhouse city of York for 30 years. Working within one of the UK’s fastest growing sectors - tourism, we’re committed to generating visits beyond London.”

Chairman and founder of Company Shop, John Marren, said it was a great honour to be included in the report for the second year running.

“We save 30,000 tonnes of surplus food and products from going to waste every year, but importantly we’re about more than just food. Through our model we’re stepping up to the big challenges of food waste and food poverty,” he said.

“Being recognised by the London Stock Exchange Group is fantastic recognition for all of our hard work and it is a great motivation for our colleagues.”

Paul Bray, finance and operations director at Team 17, said the award was a “great recognition” for the company and all the people involved.

“I don’t know many business owners that are too interested in shouting about their successes. Most folk spend their time driving their business forward rather than shouting about it, so having LSE doing some shouting on our behalf is a very healthy thing for all the companies listed,” he said.

“Core to Team 17’s success is a strong balance of focus, planning, people and really, really hard work.”

Xavier Rolet, chief executive of London Stock Exchange Group said that high growth SMEs are the driving force behind the UK economy.

“Ambition alone is not enough. These companies’ success must be highlighted and their growth properly supported with appropriate finance,” he said.

“That’s why today’s event is so important: demonstrating the strong alliance between UK Government, financial market participants, investors, entrepreneurs and companies to support these inspiring businesses.”

The Chancellor George Osborne said UK high-growth businesses are leading the charge in rebuilding the economy.

“These companies are the backbone of the British economy. They create high-quality, well paid jobs, innovate and drive economic growth. This Government fully understands the need to support ambitious entrepreneurs,” he said.

Business secretary Sajid Javid said the 1,000 firms are bringing opportunity and prosperity to every corner of the UK.

Almost 25 per cent of the companies in the report are from the construction, engineering and manufacturing sectors, demonstrating industry’s ability to adapt and succeed despite challenging headwinds.

Food & drink, IT and retail companies were exceptionally well represented and there are 17 per cent more food & drink companies named compared with last year, an indication of increased consumer spending.

Real estate appears to be one of the fastest growing sectors with an average annual growth rate of 123 per cent and companies named in the report include Zoopla, Great Portland Estates and Belvoir Lettings.

Financial services firms also continue grow rapidly, at an average annual revenue rate of 82 per cent.