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Small and Medium Enterprises (SMEs) remain a key driver in the district’s – and the country’s – economy, says the accountancy firm responsible for the definitive list of the Top 50 SMEs.
The Telegraph & Argus has once again teamed up with BHP Chartered Accountants to publish the list, which puts into the spotlight the vital role these firms play both locally and nationally.
BHP has carried out the crucial calculations to come up with the 2019 league table of the best-performing small and medium companies across the Bradford district, the Aire Valley, and Skipton.
Despite the economic uncertainty of Brexit, the Top 50 has seen an overall increase in both profit and turnover, and a small increase in the number of people the firms employ.
This year has seen 16 new entries make it into the top 50, including five in manufacturing and four in service.
Clothing and fabric manufacturer Peaspring Limited, which is based in Keighley, remains at the top with a turnover of more than £30 million. The figures represent a strong and resilient body of businesses, with impressive examples and growth across a wide range of sectors and industries, which include property, leisure, construction, textiles, health and beauty, textiles, and motors.
They show a picture of growth in profits, turnover and employment among SME businesses.
Writing in the Telegraph & Argus today, Nigel Bullas, managing partner of BHP’s Bradford office, said: “Strong, resilient, innovative and entrepreneurial’ – small and medium-sized enterprises (SMEs) in the region have once again shown the way with a year of outstanding performance.”
The Telegraph & Argus are proud to present the 2019 Top 50 SMEs in our region – read our series below:
What it takes to make it on to the list of top 50 SMEs
Figures have been compiled by BHP chartered accountants using the latest published financial information at the time of the survey filed at Companies House, along with financial data provided by Bureau van Dijk’s Fame.
A large number of new entries includes three in the top five
This year’s Top 50 SMEs has seen a large number of new entries appearing in the list – 16 in total, including three out of the top five. Of those new entrants, five are in manufacturing and four are in the service sector.
"Strong, resilient, innovative and entrepreneurial” – small and medium-sized enterprises (SMEs) in the region have once again shown the way with a year of outstanding performance.
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The company’s turnover is listed as more than £30.3 million, with profits of £2.7 million.
Why SMEs provide a great place to work
Figures from the Federation of Small Businesses show that Small and Medium Enterprises now account for 99.9 per cent of all private sector businesses, with a combined annual turnover of £2 trillion.
Firm is tailor-made for the top spot in SME list
Its website says: “The principle of not accepting second best was laid down and remains with us to the present day.
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First introduced by HMRC in 2000, R&D (research and development) tax relief has increased in popularity and become valuable to a wide range of companies. However, many companies remain unaware of the opportunity.
See more from BHP Chartered Accountants at www.bhp.co.uk
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