German and UK companies accounted for nearly half of the European businesses that enjoyed the fastest sales growth over the period 2012 to 2015, reports the Financial Times.
The business daily and market research firm Statista, have jointly compiled the inaugural FT1000 list, ranking 1,000 fast-growing companies across 24 European Union (EU) countries.
Seventy-eight of the 1,000 companies with the strongest sales growth over the three-year period are located in London, with 45 in Paris, 34 in Milan and 32 in Berlin.
Companies from Germany and the UK jointly accounted for a combined 47% of businesses in the top 1,000, with Italian companies contributing 19%, France 14% and Spain 10%.
The FT1000 ranking also displays the number of jobs created and is weighted in favour of companies that grew organically rather than by acquiring rivals.
The FT notes that the rankings show London merging as Europe’s capital for fast-growing companies and highlighting its importance as a hub for innovation and commerce in the EU, even as the UK prepares to give up its membership following the vote for Brexit last June.
The two fastest-growing companies heading the listing are Germany’s HelloFresh, a food delivery business headquartered in Berlin; and Poland’s Codewise, a technology company based in Krakow, which both increased revenues by more than 13,000% over the three-year period to 2015. Each was founded in 2011, while the average company in the list started in 2004.
Even the companies at the bottom of the ranking managed a still impressive 57% sales growth over the three years.
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Morgan Stanley is moving staff to Frankfurt in time for the March 2019 Brexit deadline.
The US bank, which already has 350 employees based in the city, will transfer some trading activities currently undertaken in London and create a further 150 to 250 jobs according to reports.
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