Posted on 18 September 2012
For the second year in succession, a company based in North Wales has been recognised as the No 1 company in the Wales Fast Growth 50, following in the footsteps of Afonwen Laundry from Pwllheli in 2011.
Compiled by the University of Wales Global Academy, the annual list identifies the fastest growing businesses in Wales.
During the period 2009-2011, Glyndwr Innovations - the commercial vehicle for Glyndŵr University of Wrexham - grew by 494% to become the fastest growing firm in Wales for 2012. It engages with the business community and public sectors across the region delivering business solutions using a team of highly talented entrepreneurs who are dedicated and draw on the extensive range of expertise within the university and through external associates to provide services to businesses from multi-nationals to SMEs.
Now in its fourteenth year, the Fast Growth 50 list has become the annual barometer of entrepreneurial firms within Wales. Since 1999, 440 firms have appeared on the fourteen lists, creating over 22,000 jobs and generate over £12 billion of additional turnover annually into the Welsh economy, much of which is spent on local goods and services.
According to Professor Dylan Jones-Evans, the creator of the Wales Fast Growth 50, this year of record growth within the list is timely
“At a time when the Welsh economy badly needs a boost, the firms featured in the 2012 Fast Growth 50 listings demonstrate, yet again, the entrepreneurial and innovative potential that exists within our business community. Together, the fifty firms generated over £3 billion of turnover in 2011 which is a record. More importantly, they created over 3,800 new jobs between 2009 and 2011 demonstrating that even within difficult economic times, Welsh business can be competitive in an increasingly turbulent global environment.
“The fact that a university-based company has won this year’s list sends a clear message about the importance of having higher education link up more closely with local industry to support the Welsh economy. Universities are often criticised for not engaging properly with business so the success of Glyndwr Innovations is great news and one can only hope that their success will spur on other higher education institutions to follow in their footsteps over the next few years.”
A full list of this year’s winning companies can be found at www.fastgrowth50.com