The North East has been singled out as a hotspot for growth in a report praising the country’s most inspirational SMEs.
Atom Bank, Dyer Engineering and Goodfellow & Goodfellow are among 28 North East firms that have been praised for their growth by the London Stock Exchange (LSE).
The businesses have been named in the sixth edition of the LSE’s 1000 Companies to Inspire Britain report, with the region having the biggest increase in companies making the list (up 56% from last year), but also the highest average revenue growth, at 95%.
Among those being praised for their growth was Durham’s Atom Bank, the º£½ÇÊÓƵ’s first app-only bank.
Edward Twiddy, chief customer officer, said: “To be recognised in the 1000 Companies to Inspire Britain report, as one of the fastest growing and most dynamic businesses operating in the º£½ÇÊÓƵ, is a huge honour.
“Companies from the North East have showed revenue growth amongst the highest in the country, and to contribute to this and represent the region is a testament to our team’s talent, especially in such a short space of time.â€
Other companies to make the list from the region included Teesside food production company On A Roll Sandwich Company, clothing retailer END., The Gateshead Housing Company, and tech firm Kromek.
Commenting on the report Jonathan Walker, assistant director of policy at the North East England Chamber of Commerce, said: “These figures clearly show what a great place the North East is for businesses.
“We have a really supportive culture, an excellent, skilled workforce available and lower costs than many other places, especially in the South East.â€
The publication of the report was celebrated at the opening of the London market at an event attended by guests including Nicky Morgan, chair of the Treasury Select Committee, and London Stock Exchange CEO David Schwimmer.
Chancellor Philip Hammond said: “Small businesses not only generate over 50% of all private sector turnover in the º£½ÇÊÓƵ, they also account for 60% of all º£½ÇÊÓƵ private sector employment. SMEs are the backbone of the º£½ÇÊÓƵ economy and we are dedicated to supporting these high growth companies to achieve their potential.
“I congratulate all the companies that are included in this year’s 1000 Companies to Inspire Britain report.â€
The full list of North East firms to make the list:
Clayton Glass
Perco (North East)
Performance Horizon Group
It’s All Good Ltd
Templeman Trading Limited
Atom Bank
The Station Hotel (Newcastle)
Cussins
Direct Line Supplies Ltd
Durham Box Company Limited
Ashworth And Parker Limited (trading as END.)
Fentimans Limited
FJ Booth Construction Limited
The Gateshead Housing Company
Goodfellow & Goodfellow Limited
Kromek Group Limited
Lucion Services Limited
Map Group º£½ÇÊÓƵ
Prima Cheese Limited
SaleCycle Limited
Scott Logic Limited
North of England Estates Limited
Horatio Holdings Limited
Crown Care LV Limited
Enhanced Elderly Care Limited
Gprb Holdings Limited (Trading as Dyer Engineering)
Warrens Group Limited
