Firms fly flag for West Midlands in London Stock Exchange report

Ninety-three West Midlands companies are among London Stock Exchange Group’s 1000 Companies to Inspire Britain report, published today.

The number of companies is up 16% compared to last year and are growing at 91% on average, 20% above the UK national average. Meanwhile, Birmingham was most represented city in the region featuring 15 companies.

Featured in the list is leisure firm Click Travel, professional services firm Lexon (Uk), engineering and construction firm McCarthy Group, Orchard Valley Foods, and Solihull-based real estate firm Purple Bricks.

To view the full list click here
This year’s report shows that companies’ revenues are growing at an exceptional average rate of 71% on average, continuing the previous year’s rate of 70%, despite strong economic headwinds.

All UK regions are represented, with 60% of companies from outside London and the South East.

Also, 34% of companies are from the Northern Powerhouse and Midlands Engine regions.

The report features companies in both traditional industries and more recent economic success stories. The 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%.

Philip Hammond MP, Chancellor of the Exchequer, said: “Small businesses are the back bone 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, London Stock Exchange chief executive, added: “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.

“Policy makers must continue to increase access to growth capital for these firms, which would in turn benefit the wider UK economy.”