The latest group of Top 50 Rising Stars 2019 shows a diverse mix of young and more mature businesses that have increased their turnover and/or gross profit by at least 20 per cent over the last three years.
The annual Rising Stars ranking is the only such research to consider both gross profit and turnover growth in its assessment. The Rising Stars have a combined turnover of £1.61 billion while total profits reached £790 million.
GrowthBusiness blogger Malcolm Parry says ‘power to the Rising Stars‘ because they are critical to the wellbeing of society due to the ‘economic meaning’ they give to the science or business idea that lies behind the business.
The team at GrowthBusiness assessed the companies and decided to include the firms on this list based on their innovative product, speed of scale and quality of leadership. Percentage growth of both profit and turnover over the last three years was also a key consideration.
1. Gtech
Worcestershire-based Dyson rival Gtech, which produces vacuum cleaner, lawnmowers and eBikes, has signed distribution agreements in international markets like Taiwan. Interestingly, it plans to manufacture its products from its UK base, rather than China, by next year where consumers will be able to pick up products directly from its factory assembly line.
Turnover: £91.2 million (2016) +315 per cent on 2013
Profit: £49.5 million (2016) +377 per cent on 2013
Sector: Retail. Based: Worcester
2.Lush UK
The cosmetics retailer, which frequently rates as the UK’s favourite high street store, has stayed resilient on a struggling high street with its scented bath bombs, enthusiastic sales assistants and vegan-friendly products tempting in millennials and older consumers alike.
Turnover: £80.4 million (2017). +99 per cent on 2014
Profit: £49.3 million (2017). +68 per cent on 2014
Sector: Retail. Based: Poole
The distributed cloud computing platform has enjoyed a good few years of growth as more SMEs migrate to the cloud. The firm, which also provides security services, web and mobile support, is still dwarfed by dominant players Amazon Web Services and Microsoft Azure but is holding its own in a competitive market.
Turnover: £83.1 million (2016). +67 per cent on 2013
Profit: £37.9 million (2016) +180 per cent on 2013
Sector: IT. Based: London
4. Just Eat
The online food delivery service has expanded internationally domestically over the last few years and added nearly four million customers to its platform in 2017. So far, it has held off fierce compeition from UberEATS, Amazon and Deliveroo.
Turnover: £78 million (2017) +311 per cent on 2014
Profit: £74.9 million (2017) +294 per cent on 2014
Sector: Food and drink. Based: London
5. Mooprint
The premium and personalised business card provider to SMEs registered booming international sales from its Old Street offices this year – 85 per cent of its sales came from outside the UK. ‘In a society where our lives are becoming ever more connected online, the physical moments when we meet are becoming all the more precious,’ Moo founder and chief executive Richard Moross recently said in an interview.
Turnover: £75 million (2016) +159 per cent on 2013
Profit: £51.5 million (2016) +153 per cent on 2013
Sector: E-commerce. Based: London
6. Box.com (UK)
Cloud storage company Box, which uses Microsoft Azure as a cloud partner, aims to make it easier for businesses and organisations to share and collaborate on Microsoft documents. Its latest financials show UK SMEs are keen to follow in the footsteps of 69 per cent of the Fortune 500 which currently use Box’s services.
Turnover: £60 million (2017) +362 per cent on 2014
Profit: £58.2 million (2017) +413 per cent on 2014
Sector: IT. Based: London
7. Zen Internet
In a world full of complaints about poor broadband speeds, Greater-Manchester based independent internet provider Zen recently came up trumps in the customer satisfaction scores, according to Which? And it seems that its restructuring strategy, where it created three customer-facing divisions in 2014: small business and residential, corporate and mid-market and partnerships is also paying off.
Turnover: £63.8 million (2017) +26 per cent on 2014
Profit: £15.5 million (2017) +38 per cent on 2014
Sector: IT. Based: Rochdale, Manchester
8. Liz Earle
The eponymous cosmetics brand was founded in 1994 by Kim Buckland and Liz Earle and was sold to Boots owner Wallgreen Boots Alliance in 2015. Sales across Boots stores helped a turnover and profit rise.
Turnover: £64.4 million (2017) +22 per cent on 2014
Profit: £41.7 million (2017) +23 per cent on 2014
Sector: Retail. Based: Guildford
Founded in Manchester in 2010 by Living Ventures group, the premium cocktail chain received £13 million in investment from private equity firm Palatine in 2013 to fund expansion to Chester, Birmingham, and Newcastle and more.
Turnover: £22.5 million (2017) +134 per cent on 2013
Profit: £17.5 million (2017) +142 per cent on 2013
Sector: Bar/restaurants. Based: Manchester
The online organic vegetable box service, which has, appropriately, grown organically, currently employs 650 people and sends out nearly 50,000 boxes of produce a week. The growing trend for ‘ethical’ businesses and subscription food delivery has helped Riverford grow turnover by 28 per cent.
Turnover: £56.6 million (2017) +28 per cent on 2014
Profit: £1-2 million (est) (2017)
Sector: Retail. Based: Devon
11. Solid State
The electronic component and battery company recently signed a deal to supply power units to the nascent autonomous robot sector, which sent its share price soaring. The company also won a distribution franchise. which will see it supply power conversion products to the military, aviation and space sectors.
Turnover: £46.2 million (2018) +27 per cent on 2015
Profit: £12.7 million (2018) +14 per cent on 2015
Sector: Electronics distributor. Based: Redditch, Worcestershire
12. ThoughtWorks
Since its foundation in Chicago in 1993, the tech and consulting company, which has over 4,500 employees spread across 42 offices in 15 countries, have helped spread agile software solutions for businesses. The firm was acquired by private equity firm Apax in August 2017.
Turnover: £48.5 million (2016) +21 per cent on 2013
Profit: £18.4 million (2016) +3 per cent on 2013
Sector: Tech. Based: London
Riding the wave of a vinyl sales boom among middle-aged men, the independent record label, vinyl pressing plant and gallery has grown its turnover and profit – part to it running the only vinyl pressing plant in the UK, in Hayes, West London, where it makes classic vinyl editions of The Beatles and The Sex Pistols albums.
Vinyl sales are at their highest since 1991, according to PA Graphics[/caption]
Turnover: £21.4 million (2017) +183 per cent on 2014
Profit: £12.8 million (2017) +171 per cent on 2014
Sector: Manufacturing and distribution. Based: Hayes, London
14. Preqin
Founded by Nick Arnott and Mark O’Hare in 2003, the data provider for the alternative assets industry employs 500 and produces data, analysis and research on fund managers and institutional investors, amongst others.
Turnover: £28.1 million (2016) +117 per cent on 2013
Profit: £7.9 million (2016) +87 per cent on 2013
Sector: Data and business intelligence. Based: London
15. Nairns Oatcakes
The Edinburgh-based company has played its cards right over the last three years; its mini-cheese and fruit and seed oatcakes have driven up sales as the ‘to-go’ grocery category continues to grow. Also, a more health-conscious consumer has increased its sales as it positions itself as a healthier alternative to bread.
Turnover: £27.2 million (2017) +23 per cent on 2014
Profit: £10.9 million (2017) +21 per cent on 2014
Sector: Food. Based: Edinburgh
16. Creo Pharma
Creo provide generic medicines – meaning copies of brand name drugs with the same side effects, intended use and strength as the original – but for a cheaper price to wholesalers, pharmacies and hospitals. The company is 60 per cent owned by US generic medicine giant Amneal.
Turnover: £27.2 million (2017) +24 per cent on 2014
Profit: £6.1 million (2017) +50 per cent on 2014
Sector: Pharma. Based: Dunmow, Essex
17. Mr & Mrs Smith
Founded in 2003 by husband and wife James and Tamara Lohan, the boutique hotel website features around 1,000 hotels in the UK and abroad, with the US market set to be next on its list. The business recently raised over £1 million in crowdfunding within a day – and hires ‘tastemakers’ including Lauren Laverne and Stella McCartney.
Turnover: £14.8 million (2018) +38 per cent on 2015
Profit: £210,000 (2018) (no 2015 figure available)
Sector: Hospitality. Based: London
The Lincolnshire based company’s key to success seems to be a vertically integrated business model – similar to Amazon which means it farms its own land, looks after its own chickens and operates its own feed mill and runs its own haulage fleet.
Turnover: £80.8 million in 2017 +37 per cent on 2014
Profit: £1.3 million (2017) +29 per cent on 2014
Sector: Food. Based: Alford, Lincolnshire
19. Totally Money
Formed in 2009, the data-driven free credit card comparison service (broker) gives consumers a quick check on their credit score and offers a range of options to help cut or transfer their debt. Venture capital group SEP led a £17.5 million financing round in 2011 in Media Ingenuity (later Totally Money) to take a minority stake in the company.
Turnover: £22.7 million (2016) +869 per cent on 2013
Profit: £6.5 million (2016) +1,828 per cent on 2013
Sector: Fintech. Based: London
20. The Authentic Food Company
Headquartered in Sharston, Wythenshawe with sites in Stockport and Cheadle, the company supplies frozen British, Indian, Oriental and Mediterranean dishes to retail and food outlets. The company recently hired chef, Matt Nutter to develop a new frozen vegan line – capitalising on the growing vegan movement which has grown 360 per cent in the last ten years.
Turnover: £83.9 million (2017) +103 per cent on 2014
Profit: £17.9 million (2017) +29 per cent on 2014
Sector: Food manufacturer. Based: Manchester
21. Xero
The UK arm of the New Zealand-based small business accounting software company is based on the SaaS software model, sold on subscription and on a per client basis. In 2007 it listed on the New Zealand stock exchange with a $15 million IPO and has acquired several companies since its launch in 2007.
Turnover: £26.9 million (2017) +1,050 per cent on 2014
Profit: £20.7 million (2017) +3,000 per cent on 2014
Sector: Fintech. Based: London
Despite high profile struggles in the restaurant sector of late, Giggling has laughed its way to the bank. Founded in Hove in 2009, the Thai restaurant group received a £6.4 million investment from the Business Growth Fund in 2015 and it seems that the money has delivered a strong return for investors. It is planning to grow to 30 sites, with new sites in Windsor, Cheltenham and others by the end of 2018.
Turnover: £18.4 million (2017) +304 per cent on 2013
Profit: £13.5 million (2017) +318 per cent on 2013
Sector: Restaurants. Based: Guildford
23. Buyagift
The Groupon rival which sells cut-price adventure days and weekend breaks has pursued a mobile marketing strategy which seems to have paid off. Another possible reason for the rise in its fortunes is millennials more likely to purchase ‘experiences’ rather than material goods.
Turnover: £18.2 million (2017) +29 per cent on 2014
Profit: £15.1 million +61 per cent on 2014
Sector: e-Commerce. Based: Borehamwood, North-West London
24. Parcel2Go.com
In the age of online shopping, consumers want goods delivered quickly and cheaply and businesses are keen to save money and time when sending deliveries. The Bolton-based parcel delivery company, which successfully completed a £500,000 crowdfunding round late last year, has capitalised on the demand.
Turnover: £56.2 million (2017) +57 per cent on 2014
Profit: £8.9 million (2017) +14 per cent on 2014
Sector: e-Commerce. Based: Bolton
25. One Iota
The retail tech firm counts JD Sports, Superdry and Size? among its clients and offers perks like a free dinner when staff work late, annual hackathons and a free Friday lunch to its 50 employees.
Turnover: £4.08 million (2017) +146 per cent on 2014
Profit: £2.8 million (2017) +99 per cent on 2014
Sector: Retail consultancy. Based: Manchester
26. Squid Card
The fintech company allows students at UK schools, colleges and universities to pay for meals via payment card, removing the need for cash which schools say has cut admin costs down by 1.5 hours a day. The firm has also set up a service arm in Nairobi, Kenya where it delivers an eLearning programme in partnership with the Kenyan government.
Turnover: £2.7 million (2016) +136 per cent on 2013
Profit: £1.3 million (2016) +108 per cent on 2013
Sector: Fintech. Based: Thames Ditton, Surrey
27. The Gym Group
The no-frills gym current operates 147 gyms across the UK and acquired Stelios Haji-Ioannou owned EasyGym in July, which helped boost its portfolio by 13. The company will be led by former finance director Richard Darwin from September 2018. The firm is also considering snapping up House of Fraser stores to further increase its portfolio, boss John Treharne recently said.
Turnover: £91.3 million (2017) +99 per cent on 2014
Profit: £90.3 million (2017) +101 per cent on 2014
Sector: Retail. Based: Croydon
28. FoTech
Founded in 2008, the company, founded with VC funding, deploys data, sensors and AI solutions tech to the water utility industry, which it says reduces the risk of burst water mains. It also has offices in Dubai, Calgary and Houston.
Turnover: £5.1 million (2016) +108 per cent on 2013
Profit: £3.8 million (2016) +98 per cent on 2013
Sector: Financial Services. Based: Hampshire
The industrial robotics and automation system supplier have created many robots over the years, including one that can create sushi to a professional standard. The firm was founded in 1969 and caters for the aerospace, automotive and food and beverage markets.
Turnover: £3.4 million (2016) +105 per cent on 2013
Profit: £934,000 +38 per cent on 2013
Sector: Robotics. Based: Warrington
30. Need Space?
As the demand for flexible working space for small businesses continues to grow, the straightforwardly named Need Space? has been busy signing up businesses to its managed workspaces in South-west and central London. The firm is part of the family-owned Wates Group.
Turnover: £3.7 million (2017) +82 per cent on 2014
Profit: £2.6 million +93.6 per cent on 2014
Sector: Property. Based: London
31. Coach in a Box
The global coaching and leadership transition firm has registered strong growth as managers and entrepreneurs get outside help to meet the challenges of an increasingly unpredictable and complex business landscape. It employs 70 people across five offices around the world and works with 200 licenced coaches who speak 27 languages between them.
Turnover: £4.4 million (2016) +76 per cent on 2013
Profit: £3.6 million (2016) +114 per cent on 2013
Sector: Education. Based: Portsmouth
The Scottish wind farm (owned by Norwegian state-owned Stratkraft) now serves 44,000 homes with renewable energy. From its first acquisition rights of a waterfall (!) in 1895, Stratkraft has bought up multiple power plants in Norway and expanded internationally when it conducted a €4.4 billion asset swap with E.ON in 2007 – making it the biggest producer of renewable energy in Europe.
Turnover: £15.07 million (2017) +35 per cent on 2014
Profit: £8.9 million (2017) +55 per cent on 2014
Sector: Energy. Based: London
London-based broker and consultant OliveTree was founded by former Morgan Stanley employee Daryn Kutner in 2009 and delivers an analytics service to institutional clients from their US and UK offices. In 2014 it hired five new directors and sales staff for its US office – a ‘key and rapidly expanding market’ the firm said in 2015.
Turnover: £13.03 million (2017) +33 per cent on 2014
Profit: £9.4 million (2017) +55 per cent on 2014
Sector: Financial services. Based: London
34. Xoomworks
The IT firm, co-founded by Steve Jackson and Malcolm Clark in 2000, recently partnered with the Financial Times in Bulgaria, which has the fastest growing IT sector in South-eastern Europe, to create a 100 strong tech firm by the end of the year. It also has offices in Cluj, Romania.
Turnover: £14.3 million (2017) +127 per cent on 2014
Profit: £2.5 million +53 per cent on 2014
Sector: Consulting. Based: London
The digital recruitment agency, which employs 30 operates a ‘collaborative commission scheme’ which means staff get a monthly payout when the business hits targets. Founder Be Kaler says ‘People are leaving permanent jobs to deliver contract work, which is higher margin, keeps you out of work politics and offers greater work diversity.’
Turnover: £14.3 million (2017) +63 per cent on 2014
Profit: £3.6 million +50 per cent on 2014
Sector: Recruitment. Based: London
36. Seopa
The price comparison service, founded by Greg Wilson in 2003, was rated a ‘best-managed company from Northern Ireland’ by Deloitte in 2017 and claims its lead generation platform produces over 30,000 leads per month for companies. It currently employs over 50 staff in Belfast.
Turnover: £12.7 million (2017) +29 per cent on 2014
Profit: £5.8 million (2017) +46 per cent on 2014
Sector: Insurance. Based: Belfast
37. Love Joes
The chicken manufacturer seems to have benefited from the chicken craze in the UK – online influencer Elijah Quashie regularly pulls in 2 million views for his reviews of chicken shops – just fewer than the average episode of Love Island.
Turnover: £19.4 million (2017) +33 per cent on 2014
Profit: £5.3 million (2017) +37 per cent on 2014
Sector: Food manufacturing. Based: Walsall
38. Beeline
GPS bike and motorcycle navigation company Beeline has been a success since it managed to crowdfund £150,000 on Kickstarter in 2015. Its new product, Beeline Moto for motocycles also successfully crowdfunded over ten times its $65,000 goal recently. Its online compass, which is attached to a bicycle handlebars is said to make navigation easier for users. It is currently stocked at Halfords, Tokyo Bike, Firebox and others.
Turnover: £5.4 million (2016) +68 percent on 2013
Profit: £5.4 million (2016) (no 2013 figure available)
Sector: Tech. Based: London
39.EmerchantPay
The online payment processing service provider, founded in 2002, allows SMEs to accept more kinds of payments like mobile payments in multi-currencies so conversion rates can be kept as high as possible. The firm works with a range of companies, including gambling firms.
Turnover: £37.9 million (2017) +132 per cent on 2013
Profit: £4.5 million (2017) +67 per cent on 2013
Sector: Fintech. Based: South East England
40. Artisan Biscuits
A Derbyshire-based family business for over 70 years, the company stocks various independent food and farm shops as well as garden centres around the UK. The firm uses UK butter, flour and clotted cream in its products and makes a portion of its sales in China.
Turnover: £7.5 million (2017) +22 per cent on 2014
Profit: £2.09 million (2017) +45 per cent on 2014
Sector: Food. Based: Derby
41. Wasabi
The Japanese fast food restaurant chain, founded by Korean entrepreneur Dong Hyun Kim 15 years ago, has opened new sites as it seeks to benefit from the ‘to-go’ market. The firm partnered with Marks & Spencer last year, offering fresh sushi counters to customers and opened its first shop in New York. However, the rising price of salmon will remain a concern for the company.
Turnover: £88.2 million (2016) +26 per cent on 2013
Profit: £31.7 million (2016) +22 per cent on 2013
Sector: Food and drink. Based: London
42. Aculab
The cloud integration and app security firm has worked with BT, the NHS and Avaya have used its services to improve their existing IT systems.
Turnover: £8.09 million (2017) +40 per cent on 2014
Profit: £6.24 million (2017) +55 per cent on 2014
Sector: Tech. Based: Milton Keynes
43. K2 (also known as Sourcecode)
The cloud tech company, which helps businesses to build business apps, has been touted as a future IPO and has raised over $100 million in private equity funding from Francisco Partners.
Turnover: £10.59 million (2017) +44 per cent on 2014
Profit: £9.6 million (2017) +117 per cent on 2014
Sector: Tech. Based: Weybridge, Surrey
44. Menkind
The retailer has ridden the recent craze for fidget spinners and drones while adding around 20 new stores to its UK portfolio, which brings its total to 88. The company has also expanded its digital marketing and purchasing teams to keep up with demand after it acquired tech-focused rival RED5.
Turnover: £40.1 million (2017) +217 per cent on 2014
Profit: £21.5 million (2017) +257 per cent on 2014
Sector: Retail. Based: London
45. Mortgage Brain
The online service for the mortgage broker, which is owned by high street giants Barclays, Lloyds, Nationwide, RBS, Santander and Virgin Money, offers apps to advisers and consumers – notching around 25,000 downloads a month.
Turnover: £8.6 million (2017) +97 per cent on 2014
Profit: £8.3 million (2017) +99 per cent on 2014
Sector: Tech. Based: Croydon
46. Smiggle UK
The brightly coloured stationery shop has cornered the ‘offline’ children’s market over the last few years. Backed by Australian giant The Just Group, the brightly coloured and sweetly scented pen shop has sharply increased turnover from a low base of £1.1 million turnover in 2014.
Turnover: £55.7 million (2018) +4,650 per cent on 2015
Profit: £42.2 million (2018) +5,158 per cent on 2015
Sector: Retail. Based: London
The online furniture store is taking on Made.com and Loaf and ships a range of chairs, tables and lighting from its 140,000 sq ft warehouse in Essex to homes and businesses.
Turnover: £8.8 million (2017) +95 per cent on 2014
Profit: £3.8 million (2017) +92 per cent on 2014
Sector: Retail. Based: Weybridge, Surrey
48. Workbooks
The customer relationship management (CRM) provider, headquartered in Reading, counts 1,400 SMEs as clients and claims it is cheaper than Salesforce and the Microsoft Dynamics CRM.
Turnover: £2.5 million (2017) +85 per cent on 2014
Profit: £2.4 million +86 per cent on 2014
Sector: Tech. Based: Reading
The independent punk rock record label Cherry Red Records have had a good few years after launching a streaming Tv service and reissuing classic albums from Jimmy Somerville and The Fall in 2015. The label is also the official shirt and stadium sponsor of League 1 football side AFC Wimbledon.
Turnover: £6.3 million (2017) +18 per cent on 2014
Profit: £2.5 million (2017) +76 per cent on 2014
Sector: Music distribution. Based: London
50. Twig World
The edtech company – a portmandeau for education technology – offers short educational video and animated content from the likes of the BBC and NASA to UK schools and local authorities via an online subscription service. It raised £3.5 million in Series B investment from Imperial College London in 2016.
Turnover: £3.4 million (2016) +76.5 per cent on 2013
Profit: £2.3 million (2016) +23.2 per cent on 2013
Sector: Media/Education. Based: London
Methodology:
The Growthbusiness.co.uk Rising Stars is an annual ranking of company’s with turnover between £2.5 million and £100 million and profits of at least £200,000. Educational institutions, car finance firms, nursing homes, VC/private equity firms and debt collection services are exempt from the list.
All financials are taken from the most recent year-end unless otherwise stated, though efforts have been made to assess the strength of the company’s performance following its latest annual report. The Top 50 Rising Stars is an independent ranking and no company has paid to be included.
Data has been drawn from Companies House and Fame, a Bureau van Dijk product. Fame contains detailed information on companies in the UK and Ireland, with software for searching and analysis.
