Real Business recently published a list of UK's fastest growing private companies - Hot 100 2015. Here we take a look at the top 20.
Retail, retail, retail
At first glance, companies in the retail sector seem to dominate, with 5 retail companies in the top 20. There are also 14 companies from the retail sector among the 50 fastest growing. These numbers are encouraging for a sector that has struggled since the recession in 2008.
In third place is Hamiltons Galleries, one of the world's leading photography galleries and a London art attraction. Hamiltons topped the list last year, and while the company was outpaced by Whitworth this year, Hamiltons boasts impressive growth and a £38.2m turnover. Also among the top 20 are a home lighting company, a furniture retailer, a burger business and a merchandising firm. The retail sector is certainly strengthening.
Outsourcing makes sense for the retail sector in order to control costs and improve service quality, especially at a time when consumers are quick to voice criticism and a large proportion of retail sales take place online. Outsourcing non-core operations mean companies are free to focus on improving and innovating their core business. The strength of this sector also has a knock on effect for outsource partners, with 4 outsourcing companies in the top 20 - all growing quickly and turning a good profit.