2020 Vision – the future for business in Yorkshire
21st January, 2020
With 2020 now in full swing, the untold potential of the next decade and what it may bring, doubtless looms large in the minds of business owners across the region.
As leaders finalise their plans, establish objectives, assess risks and determine the best routes to growth; it’s clear that Yorkshire remains a hotbed for creative, dynamic and progressive companies that have what it takes to succeed.
As the entrepreneurial world looks forwards, top 100 law firm Ward Hadaway, in partnership with The Yorkshire Post, will soon celebrate the annual Yorkshire Fastest 50 Awards. With support from businesses and partners across the region, over the coming months we will examine what the future looks like for business in the lead up to the glittering awards ceremony on Friday 20 March.
2019 heralded the end of a very significant era. Despite major political and economic upheaval and uncertainty, the region’s business community has continued to strive for excellence; never giving up in the face of adversity. Because of this, Leeds and Yorkshire have experienced a continued rise of entrepreneurial and innovative business activity, showcased by the Yorkshire Fastest 50.
In 2020, we celebrate the 10th anniversary of the awards, which recognise the region’s fastest growing, privately owned companies, where turnover has continued to increase year after year.
As we examine data from the past nine years of Fastest 50 Awards, we see that manufacturing and retail businesses have experienced particularly strong success despite the stories of struggle and decline we often hear these industries face. Poundworld Retail Limited, for example, has appeared in the Yorkshire Fastest 50 more than any other company within the region, which is no mean feat.
Construction, wholesale and business services are other sectors experiencing steady growth, as they expand their client base and number of employees to meet the growing demand for work. Technology companies are also flying the Yorkshire flag; Azzure IT won the fastest growing small company award in 2017 and 2018.
Since Ward Hadaway, backed by The Yorkshire Post, established its highly regarded awards, 335 companies have made the top 50, many of them multiple times, across nine years of awards. With Leeds and West Yorkshire a hotspot for growth, between them Yorkshire’s fastest growing firms have created over 17billion pounds in turnover; which is a huge accomplishment.
Business is booming across the region. The last three years of Yorkshire’s Fastest 50 winners experienced no less than 95% growth; an incredible achievement, especially during tough and unpredictable trading conditions.
Wholesalers have continued to go from strength to strength especially those involved in the wholesale of foods. For example, household name HECK! won last year’s fastest growing medium business and between 2012 and 2014, MSM Foods Limited was consecutively named fastest growing small business of the year.
The 2020 awards are now upon us and won’t disappoint. Will we see any emerging sectors experiencing accelerated growth in the last 12 months? Which businesses have achieved a record year of turnover? Which start-up businesses will make the list?
Celebrating innovation, achievement and the future of business across the region, the ceremony will showcase Yorkshire’s cream of the crop companies, driving us into the next decade of success.
The full list of nominees will be unveiled in The Yorkshire Post in February, with our annual supplement featuring all the winners and action from the awards published on 24 March.
Yorkshire Fastest 50 – a decade of success
- 335 – the number of companies to have featured in the Fastest 50 since it was established
- £17billion – the combined turnover of Fastest 50 companies since 2010
- 5 – the number of times Poundworld Retail has featured in the Fastest 50 (the highest number of appearances)
- Manufacturing – the sector with the highest number of companies to feature in the Fastest 50
Please note that this briefing is designed to be informative, not advisory and represents our understanding of English law and practice as at the date indicated. We would always recommend that you should seek specific guidance on any particular legal issue.
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