OCTOPUS HIGH GROWTH SMALL BUSINESS URBAN HUB LEAGUE TABLE 2016

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The Octopus High Growth Small Business Urban Hub League Table builds on the Octopus High Growth Small Business Report 2015, which quantified the huge economic value of this tiny group of companies - high growth small businesses (HGSBs) represent less than 1% of UK business - and called on the government to increase the number of HGSBs by 25% in every region of the UK to drive local growth and rebalance the economy.

The league table, which has been produced by the Centre for Economics and Business Research, identifies which towns and cities in the UK are most HGSB friendly in 2016 as we call on the Chancellor in the Budget 2016 to put in place measures to support HGSBs.

HGSBs have proven themselves to be vital to UK economic growth - our 2015 report, which was endorsed by the Secretary of State for Business, Innovation and Skills, revealed HGSBs created 1 in 3 new jobs and were responsible for 20% of economic growth in the UK in 2014.

Download the league table Download the Press Release

Download the 2016 Report

WHAT MPs HAVE SAID

OCTOPUS HIGH GROWTH SMALL BUSINESS REPORT 2015

How Britain's fastest growing smaller companies can be a force for regional revival

Download the 2015 report



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The 2015 Octopus High Growth Small Business Report builds on the success of the 2014 edition proving again the significant contribution Britain's fastest growing smaller companies are making to the UK economy.

This year's report also shows the role these companies could play in driving regional growth, addressing the North-South divide and rebalancing the economy. High growth small businesses (HGSBs) are thriving already, but with the right framework they can become a force for regional revival, rebalancing our national economy, and bringing new prosperity and optimism to every part of the UK.

Download the Press Release

Download the 2015 Repot

The views and opinions of the people in this film are subject to change. The value of investments, and the income from them, may fall or rise. The information in this film has been sourced from the Octopus High Growth Small Business Report 2015 and should not be construed as advice or recommendation.

In 2014, Octopus commissioned a ground-breaking report to capture the positive benefits of high growth small businesses across the UK. The 2015 report delves even deeper into the data, highlighting the role high growth small businesses can play in driving regional growth. Octopus launched the report at the House of Commons on Tuesday 20 October 2015 in front of a select group of policy makers, HGSBs, members of the entrepreneurial community and industry representatives with speeches from Iain Wright MP, Labour Chair of the Business, Innovation and Skills Select Committee, and John Glen MP, Parliamentary Private Secretary to Rt Hon Sajid Javid MP.

KEY DATA: SNAPSHOT

We define high growth small businesses as those with more than 20% average annual growth in turnover over a three-year period and with an annual turnover between £1 million and £20 million. Out of the 5.3 million companies that exist in the UK, only 22,470 of them are HGSBs - less than 1% of UK businesses. Despite being small in size and few in number, HGSBs make a disproportionately large contribution to our economic wellbeing, creating jobs and driving growth at an exceptional rate. They can be found in every region of the UK and across every sector.

HGSBs make up less than 1% of UK companies
In 2014, they created 1 in 3 new jobs in the UK …
 … which is around 4,500 new jobs every week.
Or 3 x the number of new jobs created by FTSE 100 companies
Almost 20% of economic growth in the UK, measured as increase in GVA, was from goods and services produced by HGSBs
3 out of 5 HGSBs are located outside London and the South East
More than 70% of HGSB turnover comes from outside London
A 25% increase in the number of HGSBs in the North of England could see almost 20k new jobs
Only 15% of HGSBs want the UK to leave the European Union

We call on Government to take the practical steps set out in this report, and target a 25% increase in HGSBs in every region of the UK within the next five years.

ANALYSIS BY UK REGION

Opportunity everywhere: the geography of HGSBs in the UK

The UK’s high growth small businesses (HGSBs) have the power to drive a regional economic revival. Almost three in every five HGSBs are outside London and the South East, and every region of the UK has a high growth success story to shout about. They create growth, and given the right skills, funding and connectivity, they can turn our regions into economic powerhouses, bringing new hope, purpose and prosperity across the UK.

The report reveals that HGSBs have a disproportionate impact on weaker performing economies. HGSBs are a lifeline for growth and job creation in Northern Ireland, Wales and the North East. Cities such as Belfast, Newcastle upon Tyne, Sunderland, Durham, Cardiff and Swansea have the greatest reliance on HGSBs for local economic growth.

WHAT PEOPLE HAVE SAID





PRESS COVERAGE




NATIONAL AND TRADE MEDIA



Business Money: Duncan Montgomery from Whittingham Riddell comments on the report's findings

Conservative Home: Nigel Adams MP calls on Government to give smaller businesses the best opportunities to grow

CNBC: Simon Rogerson, CEO of Octopus, comments on small businesses creating 230,000 jobs

Daily Telegraph: 1 in 3 new jobs in the UK created by less than 1% of businesses

Daily Mail: High growth small businesses are creating 3x the jobs of the FTSE 100

Forbes: Philip Salter on why these businesses provide the key to economic growth

City AM: Simon Rogerson article on 'Super-SMEs'

Share Radio: Simon Rogerson discusses the findings of the report

Money Observer: Simon Rogerson on why investors should back smaller businesses

Growth Business: Small businesses responsible for around 20% of UK economic growth

Startups: Contribution of smaller companies can be felt across the regions

Start Up Donut: High growth small businesses punch above their weight


REGIONAL MEDIA



Wales Online: High growth small businesses created a third of Welsh economic growth

Northern Echo: 600 small businesses responsible for one third of growth in the North East

Belfast Telegraph: Smaller businesses in Northern Ireland provided over 50% of the country's growth

Hartlepool Mail: Local MP backs the Octopus report

SME Insider (Northern Ireland): Small companies are boosting the local economy

Business Daily (Manchester): Manchester has the most successful smaller businesses outside of London






WHAT HGSB LEADERS HAVE SAID

About Octopus

Octopus transforms the industries that really matter – like investments, healthcare and energy. We do extraordinary things so that our customers see change for the better. Octopus is a fast-growing UK fund management business with leading positions in several specialist sectors including smaller company investing, healthcare property, energy and property finance.

Founded in 2000, Octopus manages more than £5 billion of funds on behalf of 50,000 investors – both retail and institutional. Over the years we have invested in more than 500 SMEs including household names such as LOVEFiLM, graze.com and Zoopla Property Group. Our investments have helped these businesses to create thousands of new jobs.

octopusinvestments.com

About CEBR

Cebr is an independent consultancy which advises some of the world’s largest companies. Cebr’s reputation for insightful economic analysis, award-winning forecasting and decisive business advice is based on innovative research by a renowned team of macro and micro-economists. Since its foundation in 1993 Cebr has been ‘making business sense’ by applying theoretical economics backed by quantitative evidence to real world decisions for companies. It provides analysis, forecasts and strategic advice to major multinationals, financial institutions, government departments, charities and trade bodies.

Cebr.com

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Unless otherwise stated, all information on this web page has been sourced from the Octopus High Growth Small Business Report 2015 and should not be construed as advice or recommendation. © Octopus Investments Ltd. All rights reserved 2016

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