The UK Fast Growth Index Reveals the Nation's 200 Fastest Growing Firms

The 2024 UK Fast Growth 200 list has unveiled the fastest-growing businesses in the UK, showcasing the entrepreneurial spirit and innovation that drives the economy forward. This inaugural programme, developed by Ideas Forums - creators of the Great British Entrepreneur Awards, the UK StartUp Awards and Ideas Fest - highlights businesses across every industry, serving as a benchmark for others aspiring to achieve exceptional growth.

The collective impact of the businesses on this year’s list is staggering. Together, they generated £8.7 billion in turnover in 2023 and provided jobs for 34,000 people. Between 2021 and 2023, these companies grew their turnover by £6.2 billion, achieving an impressive average growth rate of 251%.

Their contributions to the labour market were equally significant, adding 18,000 new jobs over the same period and demonstrating how a select group of rapidly growing businesses can significantly impact the UK economy. These exceptional firms showcase the transformative power of innovation, enterprise, and hard work across sectors such as construction, financial services, and technology, while also demonstrating their role in driving economic growth by generating jobs and contributing to the development of local communities.

Topping the list is EcoSimplified, based in Richmond, North Yorkshire Founded in 2019, the company addresses fuel poverty by connecting households with ECO4 support and funding. EcoSimplified is committed to employee wellbeing and equality, believing that happy, valued staff provide superior customer service. With over 40 years of combined expertise in the retrofit energy efficiency sector, the team has facilitated the delivery of more than £145 million in grant funding.

Other notable businesses in the top ten include Allica Bank, the fastest-growing bank in the UK, Phoenix 2 Retail, which is revolutionising the vaping industry, and GivEnergy, a leading provider of residential battery storage systems.

While London has the highest number of businesses on the top 200 list, the regional diversity is noteworthy. Wales features prominently with 38 firms, closely followed by the North of England with 37. The South of England, Midlands and East of England, Northern Ireland, and Scotland also have strong representation, showcasing the impact of these businesses across the entire UK. This demonstrates the importance of recognising fast growth firms in every nation and region of the UK and their role in generating jobs and fostering local development. Also, by celebrating their success across all industries, the UK Fast Growth 200 underscores the vital need to support and nurture the private sector in the UK.

The UK Fast Growth 200 demonstrates the powerful role that high-growth businesses play in shaping the nation’s economic future. Through their innovation, resilience, and impact, these firms set the standard for entrepreneurial excellence.

For the complete list of the UK’s 200 fastest-growing businesses, visit www.fastgrowth50.com.