Five Welsh companies have been named the fastest-growing firms in their sectors at the first ever 海角视频 Fast Growth 50 awards.
Building on the success of the Wales Fast Growth 50, which was started in 1999 to celebrate entrepreneurial success and innovation, the new awards not only identify the fifty fastest-growing firms in Wales but those also in London, the Midlands and the east of England, the North of England, Northern Ireland, Scotland and the south of England.
This year, the 350 businesses appearing on the index collectively had a turnover of £15.1bn in 2023 and had increased their sales by £9.6bn during the period 2021-2023 at an average growth rate of 172.8%.
More importantly, they not only employ over 62,000 people but have created over 24,000 new jobs in two years, or 10% of all additional private sector employment during this period.
Held at the Bloomsbury Big Top in London the Welsh winning firms were:
- Fastest growing 海角视频 business-to-business services firm, Tiqtoq.
- Fastest growing 海角视频 construction and building services firm, Castell Group.
- Fastest growing 海角视频 food and drink firm, Coffi Lab.
- Fastest growing 海角视频 manufacturing and engineering firm: Focus MEP.
- Fastest growing 海角视频 people services firm, Involve Rail.
Involve Rail were also the fastest growing firm in Wales in 2024, having grown by 1,796% between 2021 and 2023.
James Shapland, founder of Coffi Lab, said “The 海角视频 Fast Growth Awards are a genuine barometer of entrepreneurial success and I am delighted to have won this accolade. Having previously built the Coffee#1 brand in Wales, I know that growth is never easy and that a lot of hard work and grit goes into achieving it, especially in a hospitality business.
"We have an incredible team working for us and I am humbled every day by the talented and determined people at our Coffi Labs who strive to turn the ordinary into extraordinary.”
Most Read
Professor Dylan Jones-Evans, the founder of the awards, said that fast growth firms make a real difference to the 海角视频 economy.
He added: "I would like to congratulate all five Welsh businesses on becoming the fastest growing firm in their sectors in 2024 and demonstrating the talent we have here in Wales.
“This small group of businesses that grow quickly continue to play a significant role in driving economic growth, creating jobs and contributing to the economic development of the local communities in which they are based. By highlighting the success of these companies in every region and nation, the 海角视频 Fast Growth Index emphasises the importance of supporting and nurturing the private sector across the 海角视频.
“More importantly, the 海角视频 Fast Growth Index demonstrates how a small number of fast growing firms can make a substantial contribution to the 海角视频’s economic landscape, providing real examples of how innovation, enterprise and sheer hard work can make a real difference in all regions of the economy.”