Hot 100: Resilience counts in uncertain times

By Ged Henderson

16 Jul 2024

Hot 100 Logo

Things aren’t getting any easier for Lancashire businesses as they continue to grapple with the unwelcome pressures of increasing costs and heightened economic uncertainty.

See the full Hot 100 in the latest edition of Lancashire Business View

And that volatility is mirrored in this year’s Hot 100 figures, with the total revenues of its companies down from £2.1bn last year to just short of £2bn, while total profit before tax fell by seven per cent.

However, employment figures have only seen a slight drop of two per cent when compared with 2023 suggesting that businesses are still investing in their workforce.

This year’s much-anticipated list, highlighting the county’s most profitable SMEs, also contains a large number of new entries.

Six of last year’s listed businesses have been acquired, ten have grown too large for the Hot 100, while 29 have either dropped down the rankings or ceased filing profit and loss accounts altogether.

Dean Rodgers, accounts and advisory director at PM+M accountants, who once again compiled the Hot 100 list for us, says: “This indicates a level of volatility and market churn which can be attributed to the economic pressures and uncertainty companies are facing.

“However, it’s worth noting that 53 companies have maintained their presence in the list, demonstrating resilience and the ability to navigate the current economic landscape.”

The construction sector, which had a significant representation last year with 35 companies, saw a slight drop to 29 businesses.

Dean adds: “This reduction may suggest a slowdown in construction activities or increased challenges within the sector, such as supply chain disruptions, labour shortages, or rising material costs. However, the sector still plays a crucial role in the region’s economy.”

Businesses in the property, care homes, leisure and tourism, vehicle sales and repair sectors all show strongly in this year’s list.

Looking ahead to the second half of 2024, experts believe businesses in Lancashire are likely to continue facing challenges related to cost pressures and regulatory compliance.

However, Dean believes the resilience shown by the majority of the companies on the list provides a foundation for “cautious optimism”.

He adds: “Overall, businesses may need to adopt more strategic approaches to cost management and efficiency improvements to maintain profitability – innovation and adaptation to changing market conditions will be critical.

“Companies in sectors such as construction may need to explore new strategies to cope with specific industry challenges.

“Despite the challenges, there are positive signs on the horizon. Falling inflation and the anticipation of an interest rate reduction suggest potential improvements in the economic landscape.

“We are encouraged by the cautious optimism already evident amongst our clients and in the wider marketplace. This positive sentiment, coupled with a more optimistic market outlook, suggest a potentially interesting second half of the year for the economy and the businesses of Lancashire.”

Richard Slater, chairman of Lancashire Business View, says: “Once again our Hot 100 list provides a fascinating insight into the health of the county’s economy and the performance of our vitally important SMEs.

“They continue to face significant headwinds but despite uncertainty and volatility they still continue to deliver for their communities. Resilience is hard-wired into their DNA and they are rightly applauded for their efforts.”

See the full Hot 100 in the latest edition of Lancashire Business View

Enjoyed this? Read more from Ged Henderson

Latest news

1

PM+M welcomes ten new apprentices for 2025 intake Lucy Field, Kate Walsh, Ellie Fisher, Zainab Aswat, Reece Jones, Aisha Bibi Patel, Finley Vila, Uzair Zariwala, Richard Prest, and Charlie Harrison

PM+M welcomes ten new apprentices for 2025 intake

11 Sep 2025

2

ROCCIA strengthens commercial division with senior appointment Andrew Grove

ROCCIA strengthens commercial division with senior appointment

11 Sep 2025

3

Final call for investors: Rossendale community solar project must hit target by November Gary McEwan managing director of Interfloor

Final call for investors: Rossendale community solar project must hit target by November

10 Sep 2025

4

Lancashire Combined County Authority unveil plan to Get Lancashire Working Lancashire Combined Authority

Lancashire Combined County Authority unveil plan to Get Lancashire Working

10 Sep 2025

5

Lockheed Martin Skunk Works and BAE Systems’ FalconWorks announce strategic collaboration Collaboration between BAE Systems FalconWorks and Lockheed Martin Skunk Works

Lockheed Martin Skunk Works and BAE Systems’ FalconWorks announce strategic collaboration

09 Sep 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Sub36 Networking - Follow the signs
Sub36 Deaf Village Social1200
Networking
17 Sep 2025

Sub36 Networking - Follow the signs

The Deaf Village, Blackburn, BB2 5EN

10:00 - 12:00

LBV124 September/October Launch Event
MBP Arc Cinema Preston Opening 205
Networking
18 Sep 2025

LBV124 September/October Launch Event

The Arc Cinema, Preston, PR1 2BL

08:30 - 10:30

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

Longridge Soap Box Derby
Screenshot 2025-06-10 090035.png.png
LBV Hub Fundraisers
14 Sep 2025 - 14 Sep 2025

Longridge Soap Box Derby

Berry Lane, Longridge, PR3 3WH

10:00 - 16:30

Preston Tech Connection - The Ultimate Tech Quiz!
Preston Tech Connection Sept 25.png.png
LBV Hub Networking
16 Sep 2025 - 16 Sep 2025

Preston Tech Connection - The Ultimate Tech Quiz!

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:00

The Business Network Central & East Lancashire
LBV Hub Networking
17 Sep 2025 - 17 Sep 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation
Chorley Council breakfast event new
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation

Worden Hall, Leyland, PR25 3DH

08:00 - 11:00

Preston Freelancer Meet-Up: September
Sept Freelancer (1).png.png
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Preston Freelancer Meet-Up: September

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Speed Networking with BNI
2.png.png
LBV Hub Networking
24 Sep 2025 - 24 Sep 2025

Speed Networking with BNI

Chorley Football Club, Chorley, PR7 3DU

16:00 - 19:00

The Marketing Meetup IRL: Lancashire - September
TMM Lancashire
LBV Hub Networking
25 Sep 2025 - 25 Sep 2025

The Marketing Meetup IRL: Lancashire - September

Chorley, PR7 2SL

18:00 - 20:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV 123 Online Graphic
Subscribe now

Weekly news bulletin