New research from accountants and business advisers BDO LLP has revealed Surrey and Sussex’s fastest growing mid-sized companies (£10m-£300m) have continued to forge ahead in their expansion plans, reporting combined sales growth of 27% in the last year to £1.9bn, despite tightening market conditions and the uncertainty leading up to the EU referendum.
The top 20 companies in each county featured in BDO’s Best in Business 2016 are ranked by compound annual total sales (CAGR) growth over three accounting periods. Average sales per company stand at £48m (compared to £38m last year), representing sales per employee of £155k.
The best performing company across both counties was Surrey-based Scitech Trustees Limited with CAGR of 170%, which provides engineering, construction and professional services to the life science sectors. Teamsport Holdings Limited, the indoor go-karting experts which is also Surrey-based, follows with 90% growth in the last year.
The 40 firms across both counties represent a broad range of sectors but those taking top billing were real estate and construction with eight companies and manufacturing & business support services, both with five companies each.
Geographically, the fast growth companies are also fairly evenly spread; the current hotspot with four companies represented being Horsham in West Sussex. Brighton follows closely behind with three, while Surrey is represented by stalwarts Woking and Redhill with two companies each.
Kevin Cook, partner at BDO LLP, said “Throughout 2016, our research has continued to demonstrate how medium-sized businesses are thriving across the counties and making a significant contribution to their local economies.
“2017 will be an interesting year against the backdrop of Brexit, but one we think will give these businesses in particular a wealth of opportunity that they are well placed to exploit.”
