Wyre Forest leads the field in business growth18 December 2018
Franchise Brands, based in Kidderminster is top of the league of the 50 fastest growing companies in Worcestershire, according to the Worcestershire Growth Barometer report produced by accountancy and business advisory firm BDO LLP.
Franchise Brands, which didn’t feature on the league table last year, has a vision to create a group of market-leading franchise businesses that benefit from sharing the same support services. With an impressive average 205% growth over the last three years, it suggests that this vision is paying off.
Wyre Forest companies in general are showing strength and sustainability in their growth year on year. Two other local companies made the top 10 across Worcestershire: Victoria PLC, designer, manufacturer and distributor of innovative flooring products, grew its revenue by an annual average of over 64%, while Hannafin Holdings Ltd, a real estate and construction company, saw growth of over 35%.
Cllr Chris Rogers, Wyre Forest District Council’s Cabinet Member for Economic Development and Regeneration, said
“We recognise that times are challenging for businesses at the moment with the uncertainty around Brexit. However, it’s great to see that many Wyre Forest businesses are not only surviving but really thriving and this is reflected in BDO’s recent report. This sustained progress could put them on course to become major players on the regional and UK business map.”
“I was particularly impressed to see how the contribution from the fastest growing companies in Wyre Forest has moved to the top spot in the county in terms of both turnover and jobs. The Council has a positive and supportive approach for businesses, ranging from our unique local development order in the South Kidderminster Enterprise Park to connecting business leaders through its NW Ambassador scheme and providing grant funding advice and support through the NWedR team.”