The search is on the find the fastest growing firms in Wales.
Established back in 1999, the 2019 Wales Fast Growth 50 initiative will again ranks those firms achieving the highest percentage increase in revenues over the preceding two years.
Since the project was established, in association with the Western Mail, the 602 firms that have appeared from 1999 to 2018 are estimated to have created 40,000 jobs and generated an estimated £20bn of additional turnover, much of which is spent in their local area.
Professor Dylan Jones-Evans, the creator of the Wales Fast Growth 50, said: “The Wales Fast Growth 50 is a celebration of the best that Welsh business has to offer and we should all be delighted with the achievements of those businesses that make the list every year.
“Since 1999, the Fast Growth 50 firms have created tens of thousands of jobs and demonstrate annually that Welsh entrepreneurship is thriving. I am proud that it has become the awards to which businesses in Wales aspire to especially as it is the marketplace which determines whether firms make the list or not.
“At an uncertain time for the Welsh economy, it is important to demonstrate that we have some incredible firms in Wales and the awards showcase annually the entrepreneurial spirit and innovative drive of the Welsh business community.”
Barclays Bank is again the overall sponsor for the Fast Growth 50 awards.
Karen Thomas, head of corporate banking in south Wales said: “As a business, Barclays is experienced and committed to helping entrepreneurs and high growth companies every step of the way, so supporting the Fast Growth 50 is another opportunity to demonstrate our support to this vital sector.
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“We are committed to continue supporting a strong pipeline of wealth creation driven by entrepreneurial success for years to come, demonstrated by our continued investment into the Eagle Lab based at Brunel House Cardiff which provides office space and support for some of Wales most talented entrepreneurs.”
Other key sponsors for this year’s award ceremony include the Development Bank of Wales, PwC, University of South Wales, Town Square Spaces as well as former Fast Growth 50 finalists Sinclair Finance and Leasing, IQE and Smart Solutions.
A new award is being introduced at this year’s awards with the Welsh Government sponsoring a category for the fastest growing established business in Wales (defined as being over ten years old).
Lee Waters, the Minister for Economy and Transport said: “The Welsh Government is delighted to sponsor a new category which celebrates those established businesses in Wales that are committed to inclusive and sustainable growth through investing in their staff and supporting their local communities within the foundational economy”.
Last year, the 50 fastest growing firms in Wales had a collective turnover of £735m and employed over 3,300 people.
More importantly, they generated an additional £484m in sales during the period 2015-2017 at an average growth rate of 193% and also created 1,600 new jobs in just two years, demonstrating their continuing importance to the Welsh economy.
The fastest growing firm in Wales last year was ALS Managed Services, which achieved an incredible growth rate of 4,238% on the way to a turnover of nearly £11m in 2017.
Don’t miss
The 2019 list of the fastest growing firms in Wales will appear in a special supplement published with the Western Mail on Wednesday, November 13th, with full coverage of all the winning firms also featured online at WalesOnline and BusinessLive.
How to enter
To be eligible for a place on the Fast Growth 50 list, firms must:
- Have had sales of at least £250,000 in 2016.
Be an independent and privately held business (not a branch plant or wholly own subsidiary of a non-Welsh based company.
Be based in Wales.
Rankings will be based on percentage growth of revenues from 2016 to 2018. The closing date for entries is August 30th.
Further information on how to enter can be obtained .