TAKE INSPIRATION FROM THE REGION’S MOST SUCCESSFUL SME BUSINESSES

For the seventh year running, the London Stock Exchange Group has published its 1,000 Companies to Inspire Britain report

It’s been the toughest of years, possibly the most challenging on record, for UK businesses – and particularly for the country’s small and medium-sized enterprises (SMEs) which account for around 60 per cent of employment and more than half of turnover in the UK private sector.

Key sectors, such as the leisure and events industries, face a truly uphill struggle to survive, other businesses have been able to adapt, and some companies have found that their offer is exactly what we needed.

Many technology and communications businesses and those in the food supply chain have seen revenues rise sharply. This of course, comes with its own challenges: sizing up to meet demand can be as difficult as seeing your business simply melt away.

Remember the empty shelves in supermarkets in March and April?

It wasn’t always because they had run out of loo rolls or bread flour. In some cases they just couldn’t get the products to the shelves fast enough, or the products were in catering packs rather than sized for domestic use.

However, everyone needs to be inspired so we took a look at London Stock Exchange Group’s latest 1,000 Companies to Inspire Britain 2020 report and this feature highlights more than 80 companies from the West Midlands, South West and

Thames Valley which made the list. The companies in the report, published by London Stock Exchange Group with research partner Beauhurst, are all classed as SMEs and met the criteria of having company or consolidated group revenues from £6 million to £250 million based on latest Companies House filings. Companies incorporated after November 1, 2016 were excluded.

David Schwimmer, CEO at London Stock Exchange Group, said: “This year’s report highlights the regional and sector diversity of the UK’s SMEs and the entrepreneurial spirit shown by these companies.

“The top five industries represented by this year’s companies account for more than 40 per cent of the list, led by engineering and construction, manufacturing, food and beverage, retail and technology.”

Companies in this year’s report have together created 42,606 jobs in the two years to the end of 2019, demonstrating the contribution SMEs can make to the pandemic recovery. David added: “SMEs are the backbone of the UK economy. They drive growth, lead innovation and provide a critical source of jobs. It is vital that we continue to support them as we rebuild a post Covid-19 economy. London Stock Exchange Group is committed to championing these companies and helping them succeed.

“Many companies in this report now face new challenges due to the impact of the pandemic, so supporting these businesses and shining a light on their stories is crucial.”

Henry Whorwood, Head of Research & Consultancy at Beauhurst, added: “The 1,000 Companies were a real mixed bag. Some were start-ups working on groundbreaking technologies, others were simpler businesses done really well. Some companies have been in many editions of this list but I think we will see some big changes in the next list. As tragic as it is that so many businesses are struggling under lockdown, I look forward to being able to shine a spotlight on the bright spots.”