Grant Thornton UK’s report reveals gains in turnover, profitability and employment in region’s top 200 privately owned companies
The West Midlands’ 200 largest privately owned businesses achieved a combined turnover of £24.5 billion in the latest annual period.
That’s a 10% increase on the prior year and the highest growth rate recorded across all regions analysed by Grant Thornton UK in its inaugural West Midlands LTD campaign.
The growth was matched by stronger profitability, with EBITDA rising 20.9% to £2.4 billion, while total employment across the Top 200 increased by more than 5,600 to reach 111,000 people.
The report also highlights a Fastest Growing and largest international contributors ranking alongside the core Top 200, with leading names including Boparan Private Office, A.F. Blakemore and Son, Pertemps Network Group, RAC Group and Gymshark all featuring.
Depth and dynamism across every sector
No single sector drove overall growth. Financial Services was the fastest-growing area by turnover, up 135%, while Technology, Media and Telecoms added jobs at pace, with employment up 15.6%.
Consumer businesses, the region’s largest contributor at £9 billion in turnover, improved margins with EBITDA up 33.4%.
Manufacturing and Industrial businesses grew turnover to £5 billion and added nearly 3,500 jobs.
Matt Buckingham, Partner and Midlands Practice Leader at Grant Thornton UK, said: “The West Midlands has real structural advantages: a young, diverse population, deep manufacturing heritage and a fast-expanding digital and professional services base.
“That combination of depth and dynamism points to a private business community that is growing in a way that is built to last.”
Charles Blakemore, Group Director at A.F. Blakemore and Son, said: “The West Midlands offers the reach, resilience and community connection that help our business thrive while keeping us focused on the long-term responsibility that comes with serving the region we call home.”
The West Midlands LTD campaign is part of a nationwide series published annually by Grant Thornton UK celebrating privately owned businesses across the UK.
