The Coventry and Warwickshire Growth Report
09 May 2019
At the start of 2019, Westminster seemed determined to inject as much uncertainty as it could into UK business affairs. Yet Coventry and Warwickshire remained on course for growth, regardless. The region continues to build on the achievements of the last few years.
Work on the UK Battery Industrialisation Centre is underway, and despite Brexit Coventry and Warwickshire has been allocated €136m from the European Regional Development Fund and European Social Fund, for the period 2014-2020.
Elsewhere, the region’s industrial and tech capabilities are attracting national and international recognition. As always, the task is to maintain this upwards trajectory even as the bigger picture for the UK economy remains unclear.
Our latest Coventry and Warwickshire Growth Report 2019 highlights the variety and scope of growing businesses in the region and includes interviews with the LEP, Coventry City Council and Coventry University. It also features some of the companies featured in this year’s top 50 including RS Connect, who took top spot for the fastest growing business in the region. In addition, our feature articles look at employment challenges facing businesses and M&A activity.
Some key findings in this report include:
- The top 50 fastest growing companies in Coventry and Warwickshire created more than 3,600 jobs last year while generating an extra £1.2 billion of combined turnover.
- Coleshill-based RS Connect came out on top after achieving an average growth of 76.3 per cent over the last three years.
- The top five, meanwhile, all achieved growth rates above 50%. And none of the businesses in the top 50 has seen anything less than double-digit growth over the last three years. The most sluggish growers all managed growth rates of at least 12%. More than half the list (26 out of 50) grew by more than 20%.
- A glance at the highest-grossing businesses in the region show half the names in the top 10 are in the automotive sector. These five companies alone bring almost £30bn a year into the local economy.
Download our report to view this year’s listed top 50 growing companies.
If you would like to discuss the report, please contact Paul Fenner or speak to your usual BDO adviser.