Tuesday, June 15, 2010


The search starts today for the twelfth Wales Fast Growth 50, the annual project which celebrates the best of Welsh entrepreneurship.

First published by the Western Mail in 1999, this unique initiative has become firmly established as the list of business success which businesses across Wales aspire to.

Last year’s winning company was Unit Engineers and Constructors Ltd of Pembrokeshire which, since being established in 2004, had grown to an annual turnover of over £17 million in 2008.

Overall, last year’s Fast Growth 50 collectively generated £292 million of additional sales in two years at an average growth rate of 107 per cent, and created over 1900 new jobs.

This demonstrates the massive potential that exists within the Welsh economy, a trend that the Fast Growth 50 project has been observing every year since 1999.

Wales has some great companies that, with the right support, could grow to become world class players.

Since the first publication appeared twelve years ago, 351 firms have appeared on the eleven previous lists published in the Western Mail. Together, these fast growth companies have created around 16,000 jobs and generated over £4 billion of additional turnover into the Welsh economy, much of which is spent on local goods and services.

Whilst I expect that the overall turnover will decrease this year due to the worst recession since the 1920s, I still expect that this year's FG50 list in Wales will have grown by at least 50 per cent during the period 2007-2009.

The 2010 list of the fastest growing firms in Wales will appear in a special supplement, which will be published by the Western Mail on Wednesday, November 3rd 2010.

There will also be a special anniversary dinner which will take place at the Holland House Hotel on October 29th 2010. This exclusive event, which is open to only the award sponsors and fast growth firms, has become one of the most prestigious in the Welsh business calendar and, yet again, promises to be a showcase of the best of Welsh enterprise for all attending.

Awards will be presented to the fastest growing firms in each of the key sectors of the Welsh economy, as well as individual awards for sustainable long term growth.

This year, the award for the fastest growing firm in Wales will be sponsored by Capital Law, one of Wales’ most innovative and forward thinking legal firms.

Last week, I was interviewed by Sion barry, business editor of the Western mail, about this year's competition and other thoughts on Welsh business. The interview is below:


To qualify for the Fast Growth 50 2010 competition, firms should:

- Be independent and privately held (not a subsidiary or branch plant of another company)
- Had sales of at least £250,000 in 2007
- Be based in Wales

Rankings will be based on percentage growth of revenues from 2007 to 2009. The closing date for entries is July 16th 2010.

For further information on how to enter, go to www.fastgrowth50.com