The Elta Group has been named in the London Stock Exchange Group’s (LSEG) list of the most exciting and dynamic small and medium sized enterprises (SMEs) in the UK. The landmark report, entitled “1000 Companies to inspire Britain”, seeks for the first time to redress the lack of reporting on the success of the companies named in the report and their importance to the UK economy.
David Ball, Chairman of the Elta Group, comments: 'I understand that the report took LSEG over six months to research and selection criteria required companies to have shown growing revenue and to have outperformed their competitors. We are delighted to have the success we have been enjoying confirmed and recognised in such a prestigious publication by an outside source. We fully agree with LSEG that more needs to be done in the UK to support and encourage other SMEs like ourselves.”
The LSEG recognises that the term ‘SME’ covers a myriad of different businesses. Within the UK, there are said to be 4.5 million such companies, ranging from local retailers to technology companies.
Since the financial crisis started, the public sector has shrunk and large corporations are not taking on new employees as they were previously. The faster growing and more dynamic of the UK’s SMEs are now said by the LSEG to be largely responsible for the creation of new jobs in the country.
Through the report the LSEG intends to raise awareness of the importance of this elite band of companies, which it believes to be the lifeblood of UK economic growth.
The businesses are referred to by the CBI as ‘gazelle’ companies and collectively by think-tank Nesta as ‘the vital six percent’.
The £90 million Elta group is a family of businesses with operations in six countries on four continents that, together with a network of international distributors, provides quality fans and related air movement equipment to customers worldwide, via local service. As well as the original and principal company Elta Fans, the Group comprises a further fourteen businesses. UK subsidiaries include Air Design Ltd the innovative manufacturer of air handling units and heat recovery units aimed primarily at the building services market, and Hydor, the supplier of fans, controls and systems to agricultural and horticultural industries around the world - and the oldest company in the whole group.
As well as identifying one thousand emerging successful companies, the report examines in detail the opportunities and challenges facing the Elta Group and the UK’s other small and medium sized enterprises. “1000 Companies to inspire Britain” also considers the commercial trends and factors it believes will potentially have an effect on the UK economy in future.