Leamington gaming giants Codemasters have been listed as one of the top 10 fastest growing companies in Coventry and Warwickshire.
The latest Coventry and Warwickshire Growth Barometer Report, published by accountancy and business advisory firm BDO LLP, highlights the variety and scope of growing businesses in the region, with Coleshill based RS Connect coming out on top after achieving an average growth of 76.3 per cent over the last three years.
The top 50 companies in the list created more than 3,600 jobs last year while generating an extra £1.2 billion of combined turnover, according to the report.
Codemasters finished eighth in the list and were joined in the top 50 by Leamington businesses Solid Solutions Management, Palmer Hargreaves Holdings, TNS Catering, Aston Martin Holdings, The Box Factory and Assured Group.
Warwick companies BPS Warwick, Impetus Automotive and Alliance Medical Group all made the top 10 in third, fifth and ninth respectively.
Manufacturing companies appear most frequently in the top 50, with Coventry-based Impetus Automotive the sector’s highest-placed representative in fourth place.
Paul Fenner, a partner at BDO, said: “Our region is a major pull for investment and talent, thanks to a strong manufacturing and automotive base and an increasing array of other fast-growing sectors, from business services to technology and media.
“Coventry and Warwickshire’s growth story is set to continue thanks to high-profile developments such as the UK Battery Industrialisation Centre, and let’s not forget that in 2021, Coventry will take on the mantle of UK City of Culture.
“Clearly though, it is unwise to believe that the current boom can last forever. It makes sense to invest while we can and build a resilient business environment that can take knocks and adapt to future conditions.
“The good news is that local businesses, along with organisations such as the Coventry and Warwickshire Local Enterprise Partnership and the Coventry and Warwickshire Chamber of Commerce, have realised this.
“While enjoying growth, the region’s business leaders are by and large avoiding complacency and are looking at the bigger picture of how to make the most of future opportunities for our economy - it is great to see that a sensible business ethic prevails.”
Frank Sagnier, CEO of Codemasters, said: “Anyone who has been in the business knows Codemasters and knows its titles.
“It is a major industry player and has been for decades – all from a farm in Warwickshire. It is remarkable.
“The amount of people who have come out of Codemasters and started new companies is incredible. That is why the ecosystem of Silicon Spa exists and major players such as Microsoft, which owns Playground Games, Ubisoft and Sega are all here.
“It is great – the more people who work in this area the easier it is to recruit. The more the merrier.”
RS Connect, who finished top of the list, are the UK’s largest installer of telematics – which allow insurers and fleet managers to record and monitor the movement and activity of vehicles – employing around 500 staff.
The business enjoyed a 76.6 per cent average growth over the analysed period.
Nuneaton retail and wholesale business Luxury for Less came second with an average growth of 73.7 per cent with the top 10 also including Studley based manufacturers Ricor Group and healthcare and life sciences business Alliance Medical Group.
Despite the jobs boost created by the top 50 companies, the report also contains a warning on the dangers of allowing the skills gap to grow.
Supporting business growth by tackling the UK skills gap is one of five top policy areas. BDO is calling on the government to review as part of its New Economy campaign to help support the UK’s economic engine.
BDO’s Paul Fenner continued: “Employers need to make sure they can attract and hold onto key talent in order to start addressing the skills gap.
“Influential factors range from culture to remuneration, ensuring that key staff have every incentive to stay on and their ambitions plus reward are aligned with the ambitions and growth of the business.
“Another consideration employers need to take is the opportunities and benefits of recruitment from overseas to help tackle the issue.
“The key to this is working with experts to make sure skilled staff can get here easily in an increasingly challenging and regulated environment.”
To read the full report click here