UBS to champion London’s fastest growing businesses

The Fast Growth 50 list is embarking on a campaign to highlight and champion London’s fastest-growing businesses as part of a collaboration with the world’s leading global wealth manager, UBS.

The goal of the awards is to promote and celebrate those small and medium-sized enterprises (SMEs) that will make a major contribution to new jobs, wealth-creation and competitiveness of the region at a difficult economic time for many businesses.

According to the latest report from the Scaleup Institute, fast-growth firms which are normally defined as achieving 20 per cent growth per annum make up less than 0.6 per cent of the UK business population but represent 50 per cent of the total SME turnover output.

Research has also shown that this small group of firms are more productive, innovative, and export-oriented than other businesses and despite an impending recession, nine of ten plan to grow further in 2023.

They, therefore, make a massive contribution to the UK economy and the now national Fast Growth 50, will publish a detailed list of fast-growing firms in eight nations and regions across the UK, namely the East of England, London, the Midlands, North of England, Northern Ireland, Scotland, South of England, and Wales.

By creating a list of 400 fast-growing ‘local heroes’, this programme will also make a significant contribution to the levelling-up agenda that is currently driving UK Government’s economic policy and recognise the best businesses in the nation.

Since 1999, the Fast Growth 50 has been working with the top-performing fast-growth firms in Wales, recognising their achievements and helping them to make a difference to the Welsh economy.

Over this period, the firms that have appeared on the annual listings have created tens of thousands of jobs and generated billions of pounds to the Welsh economy. Because of this, the Fast Growth 50 is firmly established as the list of business success that entrepreneurs across Wales aspire to and now the Awards go National.

The Fast Growth 50 list will open for applications on March 1, 2023 and those named to the list will be celebrated at awards events to be held in Belfast, Birmingham, Bristol, Cambridge, Cardiff, Edinburgh, Leeds and London in October and November.

Mark Goddard, head of UK Regions at UBS Global Wealth Management said: “We’re proud to see UBS become the lead sponsor of the Fast Growth 50 list, as it expands to shine a spotlight on the fastest-growing small businesses across the UK.”

By Mark Adair – Correspondent, Bdaily