Today, 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.”