Stock exchange names Scotland's most inspirational companies

Dougal Sharp,founder and master brewer at Edinburgh-based Innis & Gunn, which is one of 38 inspirational Scottish companies included in the London Stock Exchange report. Picture: Contributed
Dougal Sharp,founder and master brewer at Edinburgh-based Innis & Gunn, which is one of 38 inspirational Scottish companies included in the London Stock Exchange report. Picture: Contributed
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Almost 40 Scottish companies have been named by the London Stock Exchange Group (LSEG) in its 1000 Companies to Inspire Britain report.

The stock exchange has praised 38 Scots businesses in its latest annual report, which aims to identify the UK’s "most dynamic and fastest growing" small and medium-sized enterprises (SMEs).

This represents a drop from the 46 firms north of the Border named in last year's cohort.

Selected companies for 2019 include Edinburgh brewer Innis & Gunn, Arbroath-headquartered berry supplier Angus Soft Fruits, Glasgow animation and visual effects group Axis Studios and salmon farmer Wester Ross Fisheries in Ullapool.

The chosen firms are based across Scotland, with a total of six companies in Glasgow, five in Edinburgh and four in Aberdeen.

LSEG reported that the Scottish cohort has created more than 2,600 jobs over past two-year period, with a combined annual turnover of around £1.5 billion and an average annual revenue growth of 40 per cent.

Glasgow-based groups boasted the highest rate of turnover growth out of the three cities, at 60 per cent.

This compares to an average rate of 108 per cent across the 1,000 UK companies which comprise the full list, up from 70 per cent in 2018.

North-east England (56 per cent), Wales (15 per cent) and Northern Ireland (12 per cent) recorded the biggest percentage increase in representation since the previous year's report.

David Schwimmer, chief of London Stock Exchange Group, said: “SMEs drive growth, innovation and job creation and are the lifeblood of the British economy. We believe that supporting the growth of these businesses is critical to the UK economy and the creation of a society that works for everyone.

“LSEG is pleased to be home to not only 80 Scottish companies listed on our markets, but also 23 Scottish companies in our Elite community, which supports the scaling of dynamic high growth enterprises.

"With the creation of over 2,600 jobs and a collective turnover of £1.5bn, the spirit and entrepreneurial drive of the Scottish SMEs featured in our 1000 Companies to Inspire Britain 2019 report highlights how invaluable they are to the UK economy.”

First minister Nicola Sturgeon said: “The Scottish chapter shows that our economy is moving in the right direction and reminds us that growing and flourishing companies are critical to Scotland’s long-term economic success.

“I encourage ambitious entrepreneurs to learn more about how private and public initiatives such as Elite or Scottish National Investment Bank can support them to accelerate their growth and strengthen our diverse, inclusive and productive economy.”

The report is supported by the British Business Bank and Cenkos, along with research partner DueDil.