A number of Lincoln companies have bucked the national trend of declining trade and made it into a top 200 fastest-growing list.
The CBI’s Fastest-growing East Midlands 200 [PDF] analyses companies that are managed and run in Lincolnshire, Nottinghamshire, Leicestershire, Northamptonshire and Derbyshire, along with financial advisors Grant Thornton.
The survey then looked at which companies were showing the fastest amount of growth in the region.
In Lincoln, crop sprayer company Househam Sprayers managed to take spot number nine out of 200 businesses, with a 108.4% growth rate. Their turnover went up from £9.6 million in 2009 to £16.5 million in 2012.
Other notable Lincoln companies include Rilmac Holdings Ltd, with a 86% growth rate and £15 million turnover increase; CFN Packaging Group Ltd with growth of 69%; and William Sinclair Holdings PLC, which has a growth of 65% and total revenue in 2012 of £48 million.
In Lincolnshire overall, 17 businesses managed to make the cut, with half hailing from the agriculture sector.
The survey also found Lincolnshire companies managed to lower their net debt levels between 2009 and now by 83%.
Grant Thornton Partner Phil Sayers said: “The results of East Midlands Top 200 indicate that despite the difficult economic climate for businesses in the UK, many businesses in the East Midlands are growing at a rapid rate.
“A large proportion are working in highly specialised, niche markets and taking their products and services overseas, in some cases capitalising on the strength of ‘Brand Britain’ in emerging markets.
“In short, the report highlights a region that has been resilient in trading through the downturn and is building sustained growth.”
Lucy Haynes, Director of the CBI East Midlands, said: “The report shows that many businesses in the East Midlands are creating jobs, wealth and driving the rebalancing of the economy towards business investment and export growth.
“A large proportion of the businesses are medium sized businesses – the ‘forgotten army’ of the corporate sector. By putting the spotlight on these pioneering companies, we can bolster confidence across the region and inspire others to strive for growth.”