- Report demonstrates vital importance of high-growth small and medium sized companies (SMEs) to future European economic growth, innovation and job creation
- Report is part of broader LSEG support for European high-growth companies, including leading international growth market AIM and business support and capital raising programme, ELITE
LONDON, 26-Sep-2018 — /EuropaWire/ — Today (2018-09-25), London Stock Exchange Group launches the third annual edition of its ‘1000 Companies to Inspire Europe’ report, identifying and celebrating Europe’s most dynamic and fastest growing Small and Medium Sized Enterprises (SMEs).
Company CEOs featured in the report were welcomed at the European Parliament in Brussels today by European Commission Vice President Jyrki Katainen; Nikhil Rathi, CEO, London Stock Exchange Plc; and Ramon Tremosa MEP; for the launch of the 2018 report.
The report in numbers:
- Most dynamic SMEs in the report boast average three-year compound annual growth rates of 24%, and average two-year job creation rates of 37%, proving SMEs’ capacity to tackle European unemployment
- Top 100 companies in the report have grown by 102% on average over last three years
- Exceptional level of innovation evident: nearly 10,000 patents and registered trademarks across the 1000 companies, an increase of more than 20% compared to 2017
- Importance of Europe’s manufacturing credentials underlined: 20% of companies in Manufacturing and Engineering sectors, the largest sector represented in the report, closely followed by Food & Drink at over 13%, and Technology at nearly 10%, painting a diverse picture of the European economy
Jyrki Katainen, European Commission Vice-President for Jobs, Growth, Investment and Competitiveness:
“SMEs are the backbone of the European economy, which is solid and growing. Thanks to structural reforms in Member States, but also to dynamic and innovative, high-growth SMEs, employment has reached new record levels with almost 240 million people in jobs. We need to continue on that path and create a favourable business environment enabling cutting edge innovators and solid manufacturing SMEs to grow and reach their full potential. Stock exchanges, such as London Stock Exchange Group, are an essential part of our Capital Markets Union, helping those with ideas to meet their financers.”
Nikhil Rathi, CEO, London Stock Exchange Plc:
“The economic potential of Europe’s fastest growing companies is clear in ‘1000 Companies to Inspire Europe’. The report shows high-growth SMEs are the innovators, job creators and drivers of economic growth. They have the potential to transform the European economy and give the next generation of young people the future they deserve. So, it is vital that we give these companies, and companies like them, access to suitable growth finance. London Stock Exchange Group is committed to supporting the job creators of tomorrow, increasing their access to long-term patient capital to fund their continued success.”
Simon Lewis, CEO, Association for Financial Markets in Europe (AFME):
“We are delighted to be supporting 1000 Companies to Inspire Europe again this year, which highlights Europe’s SME success stories. SMEs are at the heart of the European economy and supporting them to grow and innovate is vital to Europe’s long-term economic future. A recent AFME report found that the annual amount of pre-IPO risk capital invested into SMEs in the form of venture capital, private equity, business angel investment, and equity crowdfunding has increased in the EU from EUR 10.6bn in 2013 to EUR22.7bn in 2017. However, risk capital investments remain low relative to GDP and there continues to be a significant gap compared with the US, as set out in our report Capital Markets Union – Measuring progress and planning for success.”
LSEG’s 1000 Companies to Inspire Europe report has received political support from across Europe with contributions from Vice President Valdis Dombrovskis; Vice President Jyrki Katainen; Ramon Tremosa MEP; Markus Ferber MEP; Eva Kaili MEP; Danuta Hübner MEP, Brian Hayes MEP, Anne Sander MEP and Jonas Fernandez MEP.
The report is produced with the support and contributions from AFME and Bureau van Dijk, as well as leading business bodies in the EU including the European Banking Federation, Invest Europe and Centre for European Policy Studies and European Issuers.
‘1000 Companies to Inspire Europe’ is part of LSEG’s broader support campaign for fast growing SMEs which includes its international growth market, AIM, and innovative business support and capital raising programme, ELITE. Now counting over 900 international businesses, ELITE companies represent 32 countries across 34 sectors, generating almost €62 billion in combined revenues and account for over 300,000 jobs across Europe and beyond.
A full searchable database of all the companies along with a downloadable pdf of the publication can be found online at www.1000companies.com
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SOURCE: London Stock Exchange Group plc.
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