London’s Fastest Growing Firms: 2023 Fast Growth 50 Index
London, a city renowned for its dynamic business landscape, has released the first-ever list of the fifty fastest-growing firms. The 2023 Fast Growth 50 list showcases companies that have demonstrated remarkable achievements in the UK’s capital city.
Impressive Growth Metrics
Collectively, the identified firms generated a turnover of £2.23 billion and employed nearly 11,000 people in 2022. What’s even more noteworthy is their ability to produce an additional £1.45 billion in turnover during the period from 2020 to 2022, at an average growth rate of 188 percent.
Despite the challenges posed by the COVID-19 pandemic, these businesses created 6,600 new jobs in just two years, showcasing their significance as drivers of economic growth.
Diverse and Thriving Economy
The diversity of sectors represented on the list reflects London’s multifaceted economy. Financial services dominated with ten firms, followed by consumer services and consumer products. Notably, only five technology and digital firms were featured, dispelling the notion that rapid growth is confined to the tech sector alone.
Surprisingly, there were no fast-growth businesses located in the construction industry, despite considerable activity in this sector.
Allica Bank, the fastest-growing firm in 2023, increased turnover by an incredible 9,765% between 2020 and 2022. Other notable growth firms include payments solutions specialist Universal Partners and health innovator Cera Group, demonstrating the variety of sectors represented on the list.
A Shift in Business Paradigm
Nine B-Corp firms on the list underscore the shifting paradigm in the business world, showcasing the transformative power of entrepreneurship in creating a positive impact on society and the planet.
A Testimony to London’s Entrepreneurial Spirit
London’s entrepreneurial landscape is depicted through the Fast Growth 50 list. These companies contribute significantly to the local economy and serve as sources of inspiration for budding entrepreneurs. Their success stories provide a blueprint for sustainable growth that can inspire others.
The 2023 Fast Growth 50 London list is in partnership with UBS, the world’s leading wealth manager, showing their commitment to supporting small businesses and local economies.
Fastest growing firm in London: Allica Bank
Fastest growing consumer products firm: Little Moons
Fastest growing consumer services firm: Really Local Group
Fastest growing creative services firm: Influencer
Fastest growing financial services firm: Allica Bank
Fastest growing green firm: Eden Sustainable
Fastest growing people services firm: Scout
Fastest growing professional services firm: Fredward
Fastest growing technology and digital firm: Diginius