Grant Thornton UK LLP has unveiled the 2023 East Midlands 200 report, which identifies and champions the region’s 200 fastest-growing private limited companies, showcasing the region’s entrepreneurial spirit.
This is the eighth edition of the report and the first since the pandemic. It features the highest ever level of new entrants but is also populated by familiar names who continue to bring economic stability to the region.
Covering the period from just before the Covid-19 pandemic until September 2022 the report reflects how companies achieved overall growth within this timeframe while navigating some of the challenges created by the pandemic.
Bobby’s Foods – registered in Loughborough – was the fastest growing business in the region, followed by fellow Leicestershire firms Specialist Car Holdings and C.J Upton Holdings (Upton Steel), meaning the county secured the accolade of being home to the region’s three fastest growing firms.
Overall, Nottinghamshire based firms dominate the list with 67 firms, with the county demonstrating its strength in industrials.
Leicestershire had 49 companies on the list and its companies experienced the highest growth in profitability (59.8%) combined with the lowest growth in headcount (2.2%), reflecting the area’s strength in productivity.
Elsewhere, Derbyshire and Lincolnshire experienced the highest growth in headcount with 13.9% and 12.5% respectively.
The report revealed the region’s continued strengths in the industrials and retail and leisure sectors, with 67 and 57 companies featuring respectively.
Nick Gillott, head of Midlands corporate finance at Grant Thornton UK LLP, said: “Our report reveals the entrepreneurial nature of the region and the truly impressive resilience these exceptional businesses have shown in the face of many challenges, including Covid-19, supply chain issues and inflation.
“EM200 is designed to celebrate the many strengths in the region. While industrials dominate in the East Midlands, firms across all sectors have shown they have the know-how and entrepreneurial spirit to build strong businesses that leave tangible economic benefits and build prosperity in their local communities.”
