The most ambitious mid-market companies in the North have increased turnover by an average of 105% over the past three years, according to analysis using Growth Flag’s data analytics platform.
The data analysis is part of the High Growth 50, an annual ranking of the North’s fastest growing and most resilient businesses with revenues between £10m and £300m. Companies were assessed on metrics including turnover growth, headcount growth and equity investment. The list is compiled by MC2, a Manchester-based strategic marketing communications agency and was launched yesterday at a market close ceremony at the London Stock Exchange.
“The High Growth 50 is about more than numbers - it’s about ambition, innovation and the spirit of enterprise that defines the North," said Jonathan Saatchi, Managing Director at MC2. "From international brands to disruptive newcomers, this year’s cohort demonstrates that the region continues to punch well above its weight on a global stage.”
Growth Flag’s analysis shows that 76% of this year’s cohort are projected to achieve at least 20% growth in the next 12 months – underlining their continued contributions to the region’s economy.
Collectively, this year’s top 50 increased headcount by 69%. With an average company age of 21 years, the list highlights a mix of experienced operators and scaling challenger brands driving the region forward.
“The data and analysis shows that growth is found across the whole of the north in both foundational and frontier sectors. The businesses on the High Growth 50 are creating jobs, attracting investment, and driving innovation," said Richard Jerffery, Co-Founder of Growth Flag. "It’s vital that we continue to champion and support these great northern businesses.”
In a sign of the North’s resilience, there was strong representation from sectors that have rebounded since the pandemic, including travel, retail, and food and beverage. They included Mamas & Papas, expanding through high-street partnerships with Next and M&S; Applied Nutrition, which completed a £350m IPO last year; and Northern Monk, one of the UK’s leading craft brewers, which started life as a £5,000 homebrew project in a cellar.
“The companies in this year’s report are a powerful indicator of the strength of the North - spanning sectors from digital tech and consumer brands to healthcare and the green economy," said Bod Buckby, Head of Primary Markets (North) at the London Stock Exchange. "This diversity underlines the importance of ensuring the UK’s capital markets continue to evolve to support growth businesses at every stage of their journey.”
MC2, who partnered with the London Stock Exchange and Shore Capital Markets and event sponsor, HSBC, compiled the report which was powered by Growth Flag data.
MC2 is an employee-owned strategic marketing communications agency that works with high-growth businesses. It helps ambitious companies build and maximise value, drive sales and create magnetic employer brands.
Growth Flag, a data analytics platform, accurately predicts growth potential – and risk – for businesses across the UK. You can learn more on the Growth Flag website here.
You can download the full High Growth 50 report here.
