As well as identifying 1000 vibrant companies, the report examines in detail the opportunities and challenges facing SMEs and looks at the sectors and trends that will shape the future of the UK economy.
Spectra’s inclusion is a timely reminder of how far the company has come in just under 10 years as Managing Director Joe Maynard was quick to point out.
“Our rapid rise has seen us become a serious player within the packaging industry as we look to continue expanding the business. To be included on this prestigious list is a fantastic achievement considering the huge numbers of companies operating in the UK”.
Spectra’s inclusion coincides with the company’s on-going expansion programme at their purpose-built manufacturing plant in Suffolk. When completed, in early 2018, the new building work will increase Spectra’s size by another 50%, with the existing site growing an extra 24,000 sq. ft. to 80,000 sq. ft. in total. Spectra has also made provision for 3 further units measuring 24,000 sq. ft. each to accommodate further future growth.
Mr. Maynard believes Spectra’s success is down to the firm’s energetic innovative approach, a committed skilled workforce and a willingness to bravely invest in the future.
“We have grown a highly skilled team that buys into our vision for innovation coupled with excellence, without whom, our success would not have been possible. Next year sees our 10th anniversary and what better way to celebrate than by increasing the size of our manufacturing plant, these are hugely exciting times for the company”.
The 1000 Companies to Inspire Britain list is segmented into a number of categories, including manufacturing, food and drink, creative industries, retail, technology. Leisure and sustainably green businesses.
The report confirms that despite stories about the apparent decline in British manufacturing, the UK is still the ninth-largest manufacturer in the world and the sector is growing with one in six manufacturers ‘re-shoring’ activities to the UK, usually to improve quality or accelerate delivery times.
Prime Minister Theresa May said of the report,
“This is an exciting time for our country’s high growth businesses, old and new. I welcome the London Stock Exchange Group’s focus in this publication on the UK’s most dynamic and fastest growing businesses”.
Xavier Rolet KBE, CEO, London Stock Exchange Group backed this up by adding,
“These companies are our greatest prospect for building a resilient and productive economy that works for everyone”.
The report pointed out that almost half of all UK exports come from manufacturing – and the sector’s adoption of new technology suggests its importance to the economy will only continue to grow.