Hot 100 unveiled – strong and stable but for how long?
The strength and stability of Lancashire’s economy in the world before Covid-19 is highlighted by this year’s annual Hot 100 list of the county’s most profitable SMEs.
Lancashire Business View’s much-anticipated 2020 list can be found in the latest edition of the magazine, both digitally and in print. It shows 39 new entries.
The digital edition of Lancashire Business View’s July/August edition, is published today.
This year’s Hot 100 has once again been compiled by Haworths Chartered Accountants and produced in partnership with Edge Hill University’s Productivity and Innovation Centre and county scale-up project Two Zero.
The headline figures this year show the stability of Lancashire’s small and medium sized businesses, but there are also indications that last year’s growth many have been stunted by the uncertainty surrounding Brexit.
Construction and manufacturing led the way – with several new entrants seeing these two powerhouses of the county’s economy dominate more than half of this year’s list.
The list also highlights challenging times the food and drink industry has faced over the 12-month period.
And it includes a digital sector first - Lancashire’s YouTube star Little Gaby, a five-year-old whose channel earned more than £1m in revenue.
Resilience and determination is needed now more than ever as we navigate uncharted waters
The city of Preston remained a hot bed for entrepreneurship, according to analysis of the Hot 100.
Lancashire Business View publisher Richard Slater says the attributes of strength and stability shown in this year’s list will be put to the test as the county begins its economic recovery work in the wake of the coronavirus pandemic.
He said: “Once again the Hot 100 puts the focus firmly on the many success stories we have here in the county and underlines the resilience and determination of our vitally important SMEs.
“That resilience and determination is needed now more than ever as we navigate uncharted waters. What the list will look like in 12 months’ time is the big unknown.
“The impact of Covid-19 is already being felt in all sectors, including those that have in the past provide to be powerhouses for Lancashire, such as aerospace.”