Since we launched Best in Business to champion ambitious, entrepreneurial mid-sized (£10-£300m) businesses across Surrey and Sussex, we believe the message has been heard loud and clear; these dynamic and growing companies are an essential part of the regional economy – they are the economic engine.
We’re passionate about helping these businesses and during 2017 we’re looking to further the conversation on the changes needed for them to be even more successful, as well as celebrating their successes.
We’ll be identifying those businesses which are destined to be the mid-sized companies of tomorrow and identifying those that currently are and are excelling in growing their sales and profits. To find out more about what we’re doing and why we’re doing it watch Kevin Cook, Partner, who explains in more detail.
Mid-sized companies of tomorrow
The first phase of our research this year has focussed on identifying those fast growing businesses with turnover between £5-£10m, our Companies of Tomorrow who are very likely to breakthrough in to the mid-sized space in the near future.
Companies with turnover at this level often receive less attention in terms of third-party support and yet still have to comply with the same “red tape “ as their larger counterparts. Similarly, customers and suppliers take comfort in dealing with double-digit turnover companies. As such, companies fast approaching this threshold can feel like they are in the wilderness, despite their needs being just as great.
In order to continue to grow we would encourage them to not overlook the need to begin planning and preparing early – whether this means getting the business structure right, considering efficient tax planning, incentivising new management, aligning goals with the founders, or instilling companywide disciplines that will attract next-stage investment.
What the research revealed
Our research showed that the top 40 performing companies with turnover between £5m-£10 m (20 in each of Surrey and Sussex) have increased their combined turnover by 21% to £282m. Their average sales increasing to £7m, up from £5.8m in the prior year. Notable high performers over the entire review period (three accounting periods) include Mast Interiors Limited, commercial and residential dry-wall contractors, and Chatsworth Forge Group, a group engaged in the design and manufacture of architectural metalwork – both delivering CAGR in excess of 400%
In total the two counties are home to more than 1,100 companies, with turnover between £5-£10m, which employ 47,500 people. Key operating locations include Crowborough, Brighton, Croydon, Cranleigh, Gatwick, Guildford and Sutton. .
For a full breakdown of the top 40 companies, please click here.