Local companies celebrating strong growth could be in with a chance of taking home a prize at this year’s North East Business Awards.
The awards celebrate the best of the region’s business community and includes the High Growth & Ambition Award, which will be presented to the firm that has demonstrated exceptional levels of growth over the last 12 months.
The award − previously known as the Let’s Grow Award – is open to any firms that have been trading for more than a year.
Candidates need to demonstrate a strong increase in sales, profit, market share, headcount or office size to be in with a chance of winning.
Last year’s winner was The Wheel Company Ltd which manufactures wheels from its headquarters in Seaham, County Durham. The firm is a trusted contractor for major corporate clients such as Hyundai and Kia, and has historically dealt with a mix of private clients and dealerships.
Its main focus is to attract new partnerships with a further three leading manufacturers, and to expand its presence across Europe for its Hyundai warranty scheme. Turnover increased 53.8% in 2017/2018 with a net profit increase of 87.5%.
The High Growth & Ambition Award is sponsored by FW Capital, which said it was delighted to be involved with the awards.
Joanne Whitfield, fund director of FW Capital in the North East, said: “Supporting ambition and growth is what we’re all about as a growth partner for northern businesses. In fact, we’ve invested over £140m into the local economy over the last 10 years and have supported hundreds of businesses from the funds we manage.
“The Northern Powerhouse Investment Fund − Debt Finance is providing small and medium businesses with loans of up to £750k to support growth.
“Whilst the Tees Valley Catalyst Fund supports businesses of any size with short-term performance and warranty loans of up to £2m to help them bid for new contracts.
“With a range of loans on offer to support business growth, we understand completely what it takes to drive sales, profit and market share. That’s why we are delighted to be sponsoring the High Growth & Ambition Award and recognizing the achievements of the high calibre companies in our region. Good luck everyone!”
