A project that annually showcases the fastest growing indigenous firms in the Welsh economy is going UK-wide.
The Wales Fast Growth 50, which in partnership with the Western Mail has since 1999 ranked the 50 fastest growing firms in Wales on revenue growth over the previous two years, will this year also have lists for other UK nations and regions - the east of England, London, the Midlands, the north of England, Northern Ireland, Scotland and the south of England.
The founder of the Fast Growth 50, Professor Dylan Jones-Evans, said: “Since we published our first list, we have seen the massive impact that the fastest growing firms in Wales have had on the economy with 701 businesses creating 55,000 jobs and generating £30bn of additional turnover, much of which is spent in their local area. In 2023, we are proud to be taking this important programme and series of events nationally as we believe it is important to highlight the impact that the best-performing businesses have on every nation and region in the UK.
“For example, it is estimated that the 400 high-growth firms we will be identifying in 2023 will have increased their sales by £4bn per annum and generated 20,000 new jobs every year. That is an incredible contribution that will encourage many other businesses to follow in their footsteps to generate wealth across every part of the UK.”.
The UK expansion of the project is being sponsored by global wealth manager UBS.
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.
" We look forward to joining the Fast Growth 50 team on this journey and can’t wait to see what ideas, innovation, and talent we uncover during the process."
The Fast Growth 50 lists will open for applications on March 1.
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