The fastest growing businesses in the UK in 2024 have been unveiled in the inaugural UK Fast Growth 200 list
Created by Ideas Forums - the creator of the Great British Entrepreneur Awards and Ideas Fest - and drawing on detailed research and a business community of over 50,000 entrepreneurs, this programme recognises those fast growth businesses in every industry in the UK economy which are an inspiration for other entrepreneurial businesses to follow in their footsteps to achieve outstanding growth.
The impact of these businesses is demonstrated by the fact that the UK Fast Growth 200 list collectively generated 8.7 billion GBP in turnover in 2023, employing 34,000 individuals. More importantly, these companies grew their turnover by 6.2 billion GBP between 2021 and 2023, achieving an average growth rate of 251 percent. These firms also played a crucial role in job creation, adding 18,000 new jobs over the same period.
The fastest growing firm in the UK in 2024 is EcoSimplified which is based in Richmond, North Yorkshire. Founded in 2019, it collaborates closely with trusted partners, helping households in fuel poverty by connecting them with ECO4 support and funding. It values employee wellbeing and equality, believing that happy, appreciated staff contribute to excellent customer service. EcoSimplified has over 40 years combined experience in the retrofit energy efficiency industry, and as a team, it has been involved in the delivery of more than 145m GBP of grant funding.
Other businesses making the top ten include Allica Bank - the fastest growing bank in the UK, Phoenix 2 Retail - which was established with a vision to revolutionise the vaping industry and GivEnergy – the UK’s leading provider of residential battery storage systems.
The ten fastest growing firms on the UK Fast Growth 200 list are:
Rank | Business | Turnover 2023 | Change 2021-23 | Location |
|
1 | Eco Simplified | 22m GBP | 5078.0% | Richmond | Energy efficiency |
2 | Zilch | 30.0m GBP | 3997.5% | London | Financial technology |
3 | Phoenix 2 Retail | 141.2m GBP | 3478.0% | Peterlee | Smoking alternative products |
4 | GivEnergy | 91.1m GBP | 2556.8% | Newcastle under Lyme | Residential battery storage systems |
5 | Pom Pom London | 23.7m GBP | 2024.4% | London | Fashion retailer |
6 | Involve Rail | 9.3m GBP | 1796.2% | Treforest | Specialist recruiter |
7 | Peppermint Events | 40.3m GBP | 1592.9% | London | Events and hospitality |
8 | Allica Bank | 187.6m GBP | 1531.8% | London | Banking services |
9 | ClearBank | 276.0m GBP | 1185.7% | London | Banking services |
10 | Diginius | 7.1m GBP | 1165.8% | London | Digital marketing |
Image credit: UK Fast Growth Index
Whilst London (44 firms) has the highest number of businesses on the Fast Growth 200, the other nations and regions of the UK also feature strongly including Wales (38 firms), North of England (37 firms), South of England (25 firms), Midlands and the East of England (24 firms), Northern Ireland (20 firms) and Scotland (12 firms).
Professor Dylan Jones-Evans OBE, Founder of the UK Fast Growth Index said “The UK Fast Growth 200 highlights how a select group of rapidly growing businesses can significantly impact the UK economy. These amazing firms showcase the transformative power of innovation, enterprise, and hard work across sectors such as construction, financial services, and technology. More importantly, the fast-growing firms on the list can be found in every nation region of the UK which demonstrates the impact that such businesses can have in driving economic growth by generating jobs and contributing to the development of their local communities. 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 list is undertaken in partnership with UBS, the world’s leading and truly global wealth manager. Chris Oliver, Head of High Net Worth at UBS Global Wealth Management said:
“UBS has a long history in advising and connecting business owners and entrepreneurs in the UK and helping them unlock potential throughout their journey. It is this exceptional entrepreneurial spirit and level of talent and innovation that drives job creation and growth but most crucially also inspires the next generation of entrepreneurs across the UK. As the lead sponsor of this year’s UK Fast Growth Index, UBS is looking forward to following and supporting these businesses as they go from strength to strength.
For the complete list of the 200 fastest growing firms in the UK, go to www.fastgrowth50.com
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