The Impact of Fast Growth Firms on the UK Economy
Fast growth firms are businesses that achieve 20% growth per annum, making up less than 1% of the UK business population while accounting for 50% of SME turnover output. Not only do they contribute significantly to the economy, but they are also vital job creators and industry innovators.
These firms operate at the forefront of their respective industries, constantly introducing innovative products, services, and processes to the market, thus making a tremendous contribution to the UK economy.
The national Fast Growth 50 program publishes a detailed list of fast-growing firms in the UK’s seven nations and regions, including the East of England, London, the Midlands, North of England, Scotland, South of England, and Wales.
Recognizing the best businesses in every industry of the UK economy, this program serves as an inspiration for other entrepreneurial businesses to aim for outstanding growth.
Fast Growth 50 Program Goes National
The Fast Growth 50 events are scheduled to take place across the UK in October & November 2023. These events not only reveal the top 50 fastest growing businesses in each region but also celebrate the contribution of these businesses in various sectors through awards such as Fastest Growing Consumer Services Firm, Fastest Growing Technology Firm, and Fastest Growing Technology Firm.
Find Your Region and Learn More
Choose your region below to discover more about the corresponding awards dinner, activities, and sectoral awards.
Explore the winners of the fastest-growing firm award in Wales since 1999.
Impact of Fast Growth Firms
Recent data from the Scale Up Institute indicates that high-growth firms:
- Represent all sectors of the UK economy
- Are more productive, averaging £338,000 turnover per employee
- Are more innovative, with three out of four introducing or improving a product or service in the last three years
- Have a higher involvement in international trade, with 60% engaged in global commerce
- Create high-quality jobs and have more satisfied employees
- Show more diversity, with four in ten having at least one female director
- Provide higher levels of apprenticeships to support young people into employment
If you’re interested in The UK Fast Growth 50, find out if you’re eligible here. Be part of the Fast Growth 50 Awards and take home the trophy!
