SME growth across Sheffield City Region

Howard Ringrose, partner at Barber Harrison & Platt
Howard Ringrose, partner at Barber Harrison & Platt
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Welcome to the Top 100 SMEs 2014 for Sheffield City Region. On the back of encouraging levels of recent economic growth and return to profit for many sectors, as reported by us last year, our 2014 survey pleasingly reveals a continuation of those positive financial trends, albeit not as strong a showing overall as last year.

Headline results show:

n Turnover across the Top 100 SMEs has grown by four per cent compared to 13 per cent last year

n Pre-tax profits have grown by 14 per cent compared to the 21 per cent we reported last year

n Employee numbers have crept up by just over one per cent, similar to last year.

The service sector, which comprises about 50 per cent of the Top 100, is continuing to show an increase in profits, but there are also some much improved results from the retail sector.

In particular, those companies in the motor trade, computing and business services are all reporting above average growth in sales and profits. The manufacturing sector, whilestill representing about 25 per cent of the surveyed companies, has shown a slight decline in total profits, matched by a decline in turnover of about 15 per cent.

However employee numbers in manufacturing have grown by more than 13 per cent and this is perhaps a sign of a period of welcome investment in people, as well as in equipment.

Looking at other industries in the survey, property development businesses have seen a vastly improved set of results, headlined by the new entry at the top of our 100 companies.

In conclusion then, a positive message overall of continued regional growth this year, driven in part by the return to form of property development and building trades businesses and, without doubt, the ever-burgeoning service sector.