STEERING A STEADY COURSE
Consistency, pragmatism and resilience. Lancashire businesses continue to adapt to the pressures of a complex and ever-changing economic landscape.
And those three attributes are well reflected in this year’s eagerly-awaited Hot 100 list of the county’s most profitable SMEs.
The total revenue of the Hot 100 companies is up £13m on last year’s figures to stand at just a little under £2bn. Total profit before tax was also up following last year’s seven per cent fall.
This year a total of 56 businesses have maintained their position on our list, underlining that consistency of performance.
Eight of the companies that have exited the rankings have done so after surpassing the upper size threshold, reflecting their continued growth.
And despite the challenges and the uncertainty that persists in the wider economy, Hot 100 total employment is up by 579 – a notable and very welcome increase on last year.
Manufacturing remains the dominant sector, with many of the firms featured showing
In association with
steady performance and employment growth. Construction also features prominently once again and this year there is a welcome resurgence of businesses tied to the food industry.
The list also highlights a cluster of growth and enterprise activity on the Fylde Coast.
Dean Rodgers, accounts and advisory director at PM+M accountants, who once again compiled the Hot 100 for us, says. “This year’s Hot 100 reflects a county that continues to show resilience, even as the wider economy remains complex.
“Although this year’s Hot 100 doesn’t show dramatic upheaval – it does reflect change. Manufacturing is still dominant and there are quiet gains in food and regional growth pockets.
“Employment is rising, though challenges persist. And while some familiar names remain, the number of new entries and shifting sectors suggest a business environment that continues to adapt to pressures with pragmatism and resilience.”
Richard Slater, chairman of Lancashire Business View, says: “Our Hot 100 research once again delivers a fascinating insight into the performance of the county’s SMEs, the backbone of our economy.
“The list also acts as a health check for the Lancashire economy and every year throws up some interesting trends. This year is no different.
“The resurgence of the food sector is a very welcome sign given the particular challenges it has faced in recent years.
“And it is great to see signs of further growth on the Fylde coast, a hotbed of enterprise activity within the county.
“The rise in employment numbers registered in such turbulent and challenging times has also to be applauded.
“Overall, we continue to be truly impressed by the consistency, pragmatism and resilience shown by Lancashire’s SMEs as they continue to deliver for their communities and the county. Long may it continue.”
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