News - 16 February 2015

Fast-growing firms in Nottingham ‘key’ to economic recovery

Fast-growing Nottinghamshire companies have been highlighted as being among those who are key to the UK’s economic recovery.

Recruitment specialist Staffline, car dealer Sandicliffe, print and design company WJ Linney, furnishing and upholstery designer Romo, and building firm J Tomlinson are among those highlighted in research by advisers and accountants Deloitte.

The firm’s Businesses Leading Britain report also recognised the contribution of JG Pears, which supplies the pet food industry; specialist engineering firm Avingtrans; printed label manufacturer Reflex Group; communications service provider Timico, law firm Freeths and Bowring Transport, which provides heavy haulage for construction and agriculture.

With combined revenues of £1.2 billion, between them these firms have grown by an average of 29 per cent over the last year and increased their employee head count by 21 per cent.

The Businesses Leading Britain report aims to provide an insight into the UK’s 1,000 fastest growing firms with annual revenues between £30 million and £1 billion. It examined the results of companies in the middle sector of the economy which are driving business growth, and specifically looked at who they are, where they are and what are the ingredients of their success

The report revealed an emergence of the East Midlands and the North West as hosts to an increasing number of fast-growing middle sector companies. Staffline, based on NG2 Business Park, saw its revenues to the end of December 2014 grow to £503 million, up 21 per cent from £416 million a year ago.

Chief executive Andy Hogarth, who expects his firm’s revenues to double by 2017, welcomed the results revealed by the report. “It’s great news for Nottingham and the East Midlands,” he said.

“It’s a huge amount of money for the local economy and it’s great that we have companies that are doing so well when we are only the eighth largest city.

“At Staffline, we aim to make sure we have really happy customers and profit comes from that. We grow because people like dealing with us.

“We set out to do the right thing for our customers. If we do that they will end up spending more money with us.

“I very much welcome this news and we are pleased to be a part of it.”

Mark Doleman, who heads up the Deloitte’s UK entrepreneurial business division, said the report showed businesses in the East Midlands were helping to lead the revival.

“There’s a group of businesses that have a disproportionate impact on growing revenue,” he said.

“The impact was pretty much similar between Nottingham, Leicester and Derby.”

Mr Doleman said there was further potential for growth of firms in Nottingham. He particularly highlighted the biosciences incubator BioCity as “starting to have an impact on the local economy”.

Source: Nottingham Post

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