"No two businesses are the same, so each has faced its own challenges from the global response to the virus"
Commentary by Henry Whorwood,-
Head of Research and Consultancy, Beauhurst
This is our first year partnering with London Stock Exchange Group to identify 1000 Companies to Inspire Britain. Beauhurst tracks the UK’s fastest-growing, most ambitious and most innovative companies. So implementing the rigorous methodology to identify the companies that populate the pages of this edition of 1000 Companies to Inspire Britain comes naturally to us.
Nonetheless, it is not an easy task in any year. And while it is by no means the biggest challenge 2020 has presented, making sure these 1,000 companies can still inspire, even in the pandemic context, has had its difficulties.
Beauhurst tracks 40,000 of the UK’s growing businesses. This involves looking at their investments, acquisitions and financials, but it has also meant tracking more granular news about their performance and involved our researchers evaluating the impact of lockdown restrictions on each company’s business model. Some companies experienced a surge in demand, others moved to selling their goods and services online-only, while others still experienced crippling problems in their supply chains. No two businesses are the same, so each has faced its own challenges from the global response to the virus and each has devised its own strategies for recovery.
Previous editions of this report have highlighted the important role that these companies play in driving growth in the UK economy. One cannot overemphasise the importance of their role in driving the UK’s recovery. Luckily, many of them are in a good position to do so: with the head of steam built up prior to the pandemic and the additional fuel provided by the government-backed financial support schemes, they will help to make the recovery as V-shaped as possible.
Beauhurst celebrated its 10th birthday this year and I’m pleased and proud that we’ve worked on this important report in our anniversary year. Improving understanding of these engines of economic growth and prosperity is our mission and this report does just that.