The 50 fastest growing companies across Shropshire have given the local economy a combined £1.1 billion turnover boost in the last year, according to a new report.
The latest Midlands growth report compiled by accountancy and advisory firm BDO focuses on Shropshire, putting Shrewsbury-based Capital Care Group at the top of a list of the county’s top 50 fastest growing companies.
The total turnover boost created by the 50 companies, who were ranked based on three years of consecutive growth, came to £1.1 billion.
Capital Care Group achieved 59% per cent growth over a three year period ending in May 2019 following a 2017 funding injection from Metro Bank, which was used to refinance a portfolio of five care homes and acquire a 47-bed care home in Wolverhampton.
A number of the leading companies represent sectors including IT service provision, construction, manufacturing and social care.
The research also reveals that the top 50 companies took on a total of 2,270 new members of staff across the last year.
David Pooler, a partner at BDO and Head of the Shropshire team, said:
“Shropshire’s diverse and healthy business environment helps the county stand out when it comes to business growth in the Midlands.
“The variety of sectors that make this list create a promising picture for the future and boost Shropshire’s reputation as an attractive place to do business.
“Moving forward, if further investment in infrastructure and business premises is made, Shropshire will not only meet growth expectations but exceed them, making it a desirable place for a diverse, high-quality workforce to call home.”
The top 10 fastest-growing businesses according to the report includes meat processor Pickstock Telford, Oswestry-based aerial platform manufacturer Skyjack UK and privately owned Cleobury Mortimer firm Amodil Supplies, which is the largest UK stockholder of stainless steel products.
The report also recognises Telford as the centre of business growth in Shropshire, as it is home to 27 of the top 50 businesses.
Speaking in the report Paul Bennett, chairman of the Shropshire Business Board, said: “We are quite unusual in that there is such a variety of successful businesses in Shropshire, which means we’re not really dependant on any particular sector.”