SME Fast Growth 50 index: Recruitment remains top challenge for growing firms
WHEN it comes to growing fast-expanding SMEs, there are many challenges to navigate.
As TheBusinessDesk.com in partnership with Alexander & Co release the names of the next ten companies that have made it onto the SME Fast Growth 50 index, we look at the issues facing firms in 2022 and beyond.
While the UK ranks third for the number of start-up businesses, it only comes in at 13th for SMEs that successfully scale, according to research from the OECD.
And according to the Scale-Up Institute, while scale-ups have remained resilient despite challenges from Covid-19 and Brexit, there were several factors that were slowing down growth.
It highlighted access to finance, access to support networks – including non-executive directors and mentors – and access to new markets.
However, access to skills and talent remains one of the biggest barriers to growth for fast-growth SMEs.
Gary Kramrisch, partner at Alexander & Co, said: “The challenges facing SMEs in the North West have
Gary Kramrisch, partner at Alexander & Co
never been more pressing than they are now.
“While there are several challenges they are currently facing, one of the biggest has been the access to skills and talent.
“The race for talent has never been more competitive in the North West due to a volatile marketplace, the changing attitude of workers, and high salaries, which are making finding and recruiting talent one of the key barriers to growth.
“However, growing SMEs have a competitive edge over bigger businesses and corporations over their ability to adapt, be flexible, and grow their talent pool helping them to secure, develop and retain talent.”
Access to finance has been another key issue for SMEs, said Gary.
He continued: “We have gone through so much unprecedented uncertainty in the current economic climate and with rising energy costs, inflation, and interest rates, navigating through all that isn’t going to be easy, and getting advice early on is critical so we can help SMEs on their journey.
“Despite those challenges, there are many SMEs in the region that have shown an appetite for growth.
“They’ve been resilient, they have pivoted when they could see opportunities, they have planned, and because they have been proactive, and as the SME Fast Growth 50 index shows, they have expanded and shown growth in both turnover and profitability.”
SME Fast Growth 50 – Rank 31-40
| Rank | Company Name | Location | Latest turnover (£m) | Turnover growth |
| 31 | BLUNDELL’S OF LIVERPOOL | Knutsford | 39.8 | 149% |
| 32 | JOLODA HYDRAROLL | Liverpool | 45.1 | 147% |
| 33 | LOTUS BAKERIES UK | Manchester | 45.5 | 145% |
| 34 | LONGDON HALL SCHOOL | Bolton | 12.3 | 145% |
| 35 | OAKMERE HOMES (NORTHWEST) | Kendal | 31.2 | 144% |
| 36 | MANCHESTER DRINKS COMPANY | Bury | 28.8 | 137% |
| 37 | CONBRIO FUND PARTNERS | Manchester | 2.2 | 136% |
| 38 | FIRSTCOM EUROPE | Bolton | 12.0 | 135% |
| 39 | DOWNING PROPERTY SERVICES | Liverpool | 13.6 | 133% |
| 40 | THE VILLAGE BAKERY (WREXHAM) | Chester | 49.0 | 126% |
The SME Fast Growth 50 list has been compiled with data from Experian.
All the businesses are private and located in the North West and have shown the largest percentage increase in turnover (up to £50m) over the last three years while also remaining profitable in each of those years.
