Language Connect recognised in 2018 Sunday Times Lloyds SME Export Track 100
For the second year running, Language Connect features in the prestigious Sunday Times Lloyds SME Export Track 100 league table for 2018. The league table ranks Britain’s profitable SMEs with a turnover from £5m – £25m and international sales exceeding 20%.
Companies have to be registered in the UK and be independent, unquoted and ultimate holding companies. International sales growth is measured by compound annual growth rate (CAGR) over the latest two financial years. Annualised international sales have to be greater than £150,000 in the base year, exceed 20% of total sales in the latest year, and show a rise from the previous year.
Language Connect Managing Director, Ben Taylor comments:
We are delighted to be included in the export track for a second year running. With our client base growing increasingly global, we have seen first hand the positive impact a solid export strategy can have.
According to the Fast Track report, this year’s SME Export Track 100 achieved, on average, international sales growth of 80% a year over two years to a total of £744m. Together they employ 7,900 staff, having added 2,700 jobs over the period.
The latest league table illustrates how British companies are increasingly looking beyond their traditional export markets for growth, with more than 82 selling to countries outside Europe and the US, compared to 60 companies last year.
The vast majority (93) say future international growth will come from outside Europe.
Gareth Oakley, managing director SME banking at Lloyds Banking Group, the title sponsor, commented:
For businesses that take the leap to trade overseas, the rewards can be significant – the strong growth
achieved by this year’s SME Export Track 100 is proof of that. At Lloyds Banking Group we are committed to helping businesses scale-up and trade internationally, and have pledged to help 5,000 first-time exporters every year until 2020 in support of this. Our International Trade Portal is a valuable source of insight for any businesses looking to explore overseas options.
Downloads: The full 2018 research report and supplement