New north Wales award announced
THE 2017 Fast Growth 50 project has announced a new award to recognise the fastestgrowing firm in north Wales.
It is being sponsored by Horizon Power, which is currently developing plans for the Wylfa Newydd nuclear power station on Anglesey.
Now its 19th year, the Wales Fast Growth 50 initiative is a key barometer of the health of the private sector in Wales and is determined on turnover growth over a two-year period. Widely seen as the leading entrepreneurship awards in Wales, the 551 firms that have appeared on it since 1999 have created tens of thousands of jobs and generate an estimated £18bn of additional turnover annually for the Welsh economy.
Sasha Davies, head of strategic development Wales for Horizon Power, said: “We are delighted to sponsor the Wales Fast Growth 50 list and are proud to back the inaugural award for the fastest-growing business in north Wales. We believe that the Wylfa Newydd Project has real potential to act as a catalyst for economic growth across the whole of Wales, with a particular focus on the north.”
Other sponsors for this year’s awards include Barclays Bank, Capital Law, PwC, Cardiff Airport, Sinclair Finance and Leasing, RMS, Smart Solutions, the University of South Wales and the Welsh Government. And one of Wales’ leading tech firms, IQE, is backing the award for the fastest-growing firm in Cardiff, which was won last year by CP Hire.
Chief executive of IQE, Drew Nelson, said: “We are very happy to be sponsoring the fastest-growing firm in Cardiff award for the 2017 Fast Growth 50, especially as IQE was proud to appear on the very first list of the fastest-growing firms back in 1999.
“It is our vision to help create the world’s first compound semiconductor cluster in Wales that will attract further investment in the region and, through our partnership with Cardiff University, encourage new technology start-up businesses that will make the list in years to come.”
Jason Clarke, lead partner for PwC private businesses in Wales, said: “As the Welsh economy faces the challenges of the digital era and looks to exploit new technologies, fast-growing, agile businesses will be the key to success. Our ongoing commitment to the Fast Growth 50 awards is one part of our strategy to support high-growth businesses in Wales as we also transform our business for the digital age.”
All of the 2017 Fast Growth 50 companies will be featured in a special Western Mail supplement, which will be published on October 25, as well as online in the business section of WalesOnline.co.uk
To be eligible for a place on the Fast Growth 50 list, firms must:
Have had sales of at least £250,000 in 2014;
Be an independent and privately held business (not a branch plant or wholly-owned subsidiary of a nonWelsh-based company; and Be based in Wales. Rankings will be based on percentage growth of revenues from 2014-16.
The closing date for entries is July 31, 2017. For more details visit www.fastgrowth50.com