Yorkshire firms some of fastest growing in UK
HUDDERSFIELD-based Simply Biz is the fourth fastest growing private company in the UK, according to the latest Real Business/LDC league table.
But the financial services company, which saw 160% average growth per year over the last four years, isn't the only Yorkshire firm to receive a ranking in the league table this year.
Sheffield-based online hotel agency Alpharoom was placed 12th with 120% growth while Leeds firm Maria Mallaband Care Group was ranked 62nd.
The businesses join a diverse list of dynamic companies ranging from Katie Melua's independent record label, to online clothes retailer Net-A-Porter, to London-based hedge funds.
Grant Berry, UK regional managing director of sponsors LDC, Lloyds TSB's private equity arm, said:
“This is a fantastic achievement by three Yorkshire businesses to have joined the ranks of the country's fastest growing companies.
“Their success is a testament to the diversity and resilience of the UK economy, providing clear evidence that our entrepreneurial spirit is alive and well.”
Findings from an accompanying survey of Hot 100 founders also show that two thirds of entrepreneurs on the list remortgaged their homes to raise funds to start their business, 44% had received investment from third parties for development capital/secondary buyout, and that 87% of businesses hadn't received government funding.
Only just over half of founders are graduates with almost 40% leaving school at GCSE or A level.
Topping this year's list of elite entrepreneurs is the Markit Group after growing by an average of 234% per year over the past four years to record £53m sales in 2007.
Founded by former Canadian banking executive Lance Uggla just seven years ago, Markit pools credit-trading data and supplies some of the financial sector's most important barometers.
The Real Business/LDC Hot 100 Survey – which has been running for over a decade – tracks the fastest growing firms by sales over the past four years. Rankings are based on sales growth over a four-year period.
Companies need to have a minimum turnover of £5m, generated profits in their last financial year and still be actively trading. No subsidiary companies are allowed. No company is included if a credit rating or net worth could not be determined. The most recently filed accounts have to be in the past two years.
