On 11th October, the North East business community gathered for the 27th annual Fastest 50 Awards, celebrating regional business growth.
The event, held at the BALTIC Centre for Contemporary Art, highlighted companies excelling in growth and innovation across various sectors.
Celebrating Achievements in Business Growth
On 11th October, the North East business community convened at the BALTIC Centre for Contemporary Art for the esteemed 27th Ward Hadaway North East Fastest 50 Awards. This event recognised outstanding business growth within the region, with RE: GEN Group once again emerging as the overall fastest-growing business. This achievement underscores the company’s consistent performance and innovative strategies within the housing regeneration sector.
Inspiration from Industry Leaders
Jen Hartley, Director of Invest Newcastle and Head of Economic Development at Newcastle City Council, addressed attendees, highlighting the remarkable resilience of businesses in the face of challenges. She attributed this success to robust public-private partnerships fostering sustainable and inclusive economic growth.
Sharing the stage with Hartley were Graeme Whitfield from The Journal, Ward Hadaway’s executive partner Nick Gholkar, and Damien Charlton, who leads the awards. Their discussions underscored the importance of collaboration and strategic planning in driving regional economic expansion.
Diversity Across Sectors
The event showcased businesses with a combined turnover of £1.7 billion, reflecting an impressive average turnover growth of 54.6%. This diversity was evident across sectors like construction, manufacturing, technology, and retail, demonstrating the North East economy’s strength.
RE:GEN Group’s triumph in both the overall and large business categories was complemented by OES Group’s success in the medium business category, highlighting its expanding operations in marine safety and power generation. Troo Ltd’s win in the small business category further illustrated the region’s dynamic business landscape.
Historical Consistency and New Entrants
This year’s Fastest 50 list included 21 businesses from construction and manufacturing, sectors integral to the North East’s industrial heritage. Long-standing companies like GWS Holdings and Merit Group Services made their sixth and fifth appearances, respectively, on the list, showcasing sustained growth.
Additionally, first-time entrants like Hutchison Catering and Waymid Electrics signaled fresh momentum in the regional market dynamics. This blend of established and emerging businesses demonstrates robust economic vitality.
Achieving Economic Milestones
The 2024 Fastest 50 companies achieved a total turnover increase of £930 million, with an impressive average growth rate of 201.79%—among the highest recorded since the awards’ inception.
Damien Charlton emphasised this remarkable achievement, attributing it to the unwavering ambition present within the region’s business landscape. He noted how these companies set benchmarks on both regional and national levels.
Commitment to Sustainability
Nick Gholkar highlighted the region’s dedication to sustainability, with many businesses actively implementing responsible practices in response to a low-carbon future. He stressed the significance of these endeavours in ensuring long-term economic and environmental benefits.
Congratulations were extended to all companies on the Fastest 50 list for their commitment to driving positive change within the industry.
These efforts align with the region’s goal of achieving sustainable growth, setting a precedent for other areas.
Key Highlights and Testimonials
Graeme Whitfield praised the exemplary performances of top performers like RE:GEN Group, noting that their consistent achievements serve as inspiration for other businesses across the UK.
Testimonials from participating companies highlighted the prestigious nature of the Fastest 50 Awards, recognising it as a catalyst for increased visibility and credibility within the business community.
The 2024 Fastest 50 Awards celebrated not just individual company successes but the collective strength of the North East business community.
This event serves as a testament to resilience, innovation, and collaboration among regional businesses.
