South west tracker sets out to identify firms with ‘high growth potential’
A new tracker’s been launched to help to identify the businesses with the highest growth potential across the Great South West.
Programmers explain the High Growth Business Tracker is a first-of-its-kind and takes a ‘data-led approach’ to identify the potential behind some of the region’s most ambitious businesses.
The Tracker aims to highlight 100 of the Great South West’s strongest-performing companies. It’s been launched by The Great South West Partnership and Tech South West.
The data is drawn from across Cornwall, Devon, Somerset, Dorset and Wiltshire. It spans sectors critical to the UK’s future prosperity, including: clean energy, defence, advanced manufacturing, digital, and food production.
‘This Tracker sends a clear message: the Great South West is home to an extraordinary concentration of high-performing, high-potential businesses,’ says Karl Tucker, Chair of the Great South West Partnership.
‘These are companies already delivering for the UK economy – in clean energy, defence, advanced manufacturing and beyond – and with the right support, they can go even further.’
‘By grounding our approach in strong data and insight, we can better align investment, innovation, and business support to help these firms scale, and unlock long-term growth for the region and the country.’
The team behind the system explain businesses identified on the High Growth Tracker hold around £4 billion in total assets, with 65% forecast to achieve at least 20 per cent growth over the next 12 months.
They go on to say that the region’s businesses have a higher growth potential, and stronger levels of financial health, than the UK average.
The team add the data underlines the depth, and resilience, of the region’s business base. They add the area represents a significant scale of opportunity.
‘A globally significant defence and marine technology hub’
Tech South West is identifying MSubs as the region’s ‘one to watch’ technology company, reflecting the depth of marine and defence innovation in the Great South West.
Based in Plymouth, MSubs develops autonomous underwater systems for defence and marine applications, including crewless submarines for the Royal Navy.
‘MSubs exemplifies the world-class deep tech innovation that makes the South West a globally significant defence and marine technology hub,’ says Dan Pritchard, Founder of Tech South West.
‘From their Plymouth base, they’re not just building autonomous submarines for the Royal Navy, they’re pioneering the future of underwater warfare and ocean exploration.’
Image: Matej Kastelic / Shutterstock
‘Project CETUS represents the largest and most complex crewless submarine operated by a European Navy, demonstrating that breakthrough defence innovation thrives when you can combine cutting-edge engineering with unparalleled access to our marine environment.’
The top five companies in the High Growth Business Tracker include Christchurch based AVIC Cabin Systems (UK) which manufactures aircraft cabin systems and photonics and optical components manufacturer, Gooch & Housego (UK) which is based in Somerset.
The list also includes: Jones Building Group, a regional construction contractor based in Somerset; 3T Global, a workforce training and technology group based in Bournemouth and Nevada Construction Limited, a specialist construction contractor based in Devon.
‘Spotlighting the companies with the biggest scaling potential’
‘This High Growth Tracker is exactly the kind of data-led tool the Great South West needs – spotlighting the companies with the biggest scaling potential and helping us focus capital, connections and support where it will have the greatest impact,’ says Ben Cooper, Director at Tech South West.
‘The Tracker puts hard evidence behind what we see on the ground: a deep pipeline of ambitious businesses across clean energy, defence, advanced manufacturing and digital.’
‘With 100 companies featured – and 65% forecast to grow 20%+ in the next 12 months – this is a powerful way to align investors and partners around the region’s highest-potential firms.’
The High Growth Business Tracker is developed by GC Insight. The team has drawn upon a robust methodology and are using a range of data sources to assess business performance: turnover, profitability, productivity, investment and growth potential.
Several priorities emerge that will be critical to strengthening the region’s business environment over the coming years.
These include making high-growth business support easier to access and navigate; improving coordination between Growth Hubs, local authorities and regional partners.
The aim is to increase access to innovation expertise and facilities which’ll ensure resources are targeted where they can deliver the greatest economic impact.
The Great South West Partnership will now work with public and private sector partners to take this agenda forward.
The High Growth Business Tracker will also play a central role in the Partnership’s national engagement activity.
The Great South West aims to take the findings and business case emerging from the Tracker to London Tech Week next year, showcasing the region’s pipeline of investable, high-growth companies to investors, policymakers and industry leaders.
