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Business & Economy

North East SMEs celebrated in London Stock Exchange Group report

A start-up bank, a technology firm helping thwart terror attacks and a family-owned drinks maker are just some of the North East firms championed in a new influential industry report.

The London Stock Exchange Group’s 1000 Companies to Inspire Britain survey celebrates nearly 30 regional businesses across a number of sectors.

The report identifies the UK’s most dynamic and fastest growing small and medium-sized enterprises (SMEs).

Its list includes Durham City’s Atom Bank, Sedgefield-based technology company Kromek Group, which is known for supplying detection technology for the medical, security screening and nuclear markets, and Hexham’s natural botanical drinks maker Fentimans.

It also highlights The Station Hotel (Newcastle) Limited, The Gateshead Housing Company, Seaham’s Prima Cheese and Peterlee-based high-end tableware and kitchen supplies company Goodfellow & Goodfellow.

According to the report’s findings, companies in the North East exhibited revenue growth among the highest in the country at 95 per cent, with the number of firms on its list from the region increasing by 56 per cent on a year ago.

Reflecting on the report, Chancellor Philip Hammond said: “Small businesses not only generate over 50 per cent of all private sector turnover in the UK, they also account for 60 per cent of all UK private sector employment.

“SMEs are the backbone of the UK economy and we are dedicated to supporting these high-growth companies to achieve their potential.

“I congratulate all the companies included in this year’s report.”

Further North East firms on the list include Stanley’s Clayton Glass, Middlesbrough’s On A Roll Sandwich Company, Perco (North East), Performance Horizon Group and snack firm It’s All Good.

Templeman Trading, Cussins, Direct Line Supplies, Durham Box Company, Ashworth And Parker, F.J. Booth Construction and Lucion Services are also celebrated.

David Schwimmer, London Stock Exchange Group chief executive, added: “SMEs drive growth, innovation and job creation and are the lifeblood of the British economy.

“We believe that supporting the growth of these businesses is critical to the UK economy and the creation of a society that works for everyone.”

MAP Group (UK), Salecycle, Scott Logic, North Of England Estates, Horatio Holdings, Crown Care Iv, Enhanced Elderly Care, Gprb Holdings and Warrens Group also make the list from the North East.