In a turbulent economic landscape, UK small and medium-sized enterprises (SMEs) are grappling with a host of challenges. They’re juggling higher interest rates, escalating costs, and labour shortages. Even the UK government’s own goals for SME procurement spending have fallen short, making the outlook increasingly precarious for small to medium-sized companies.
The UK’s technology sector stands as a beacon of resilience and innovation. Against the backdrop of considerable challenges, UK tech companies are not just surviving; they are thriving.
Kiren Asad
Deloitte UK Technology Fast 50 Programme Lead
The complexities of Brexit have necessitated continuous adaptation in trade and staffing, with new EU regulations creating fresh barriers. The ongoing War in Ukraine is driving global uncertainty and volatile energy prices. The macroeconomic environment and domestic challenges raised questions about how the UK’s business community can stay competitive.
Yet, despite this storm of adversity, the UK’s technology sector stands as a beacon of resilience and innovation. Against the backdrop of considerable challenges, UK tech companies are not just surviving; they are thriving. The sector continues to show an extraordinary ability to adapt, innovate, and scale, providing a glimmer of hope and a roadmap for global competitiveness amid uncertainty.
The Deloitte UK Technology Fast 50 awards programme recognises an annual cohort of the most innovative and high-growth technology companies in the UK. Last year, the programme was divided into four categories: the Technology Fast 50, Women in Leadership, Regional Winners, and the Rising Star Award. This year we’re proud to announce a new fifth category, CleanTech, which recognises high-growth companies creating innovative environmentally-focused tech products and services.
Companies are ranked based on revenue growth over a three-year period. To qualify, companies must fall under the broad umbrella of being “technology-enabled”, which can range from owning proprietary intellectual property to manufacturing a technology-related product, being technology intensive, or heavily engaged in research and development.
In the following analysis, we delve into the data behind this year’s Fast 50, exploring the geographical spread of these companies, their industry focus, and sources of funding. We also examine key metrics, such as employee numbers and turnover, while identifying the strategic areas of focus that are crucial to their rapid growth. This overview aims to offer insights into the current state and future trajectory of the fastest-growing companies in the UK’s tech ecosystem.
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