Despite the challenges presented by ongoing market uncertainty, the largest 100 owned and managed companies in our Essex Limited report continue to show a story of growth across the county. Total turnover increased by 15.0% to £10.5 billion in 2019 and profits continue to highlight another positive year with 11.8% growth.
Launched in 2011 by our financial and business advisers and in partnership with Birketts LLP, Essex Limited gives specialist insight into the performance of the Essex business community.
The annual survey analysis provides a yardstick against which the county can assess its economic performance and businesses can benchmark themselves against their peers.
How Essex Limited is compiled
Essex Limited is a study of the county’s 100 largest owned and managed companies by turnover that are principally owned, controlled and managed in Essex. The survey excludes companies that are listed or owned by overseas businesses, or by large corporates located outside of the county.
Compiled using the most recent publicly available financial statements (as at 30 September 2019), the report looks at the current and previous year’s financial performance of the 100 constituent members to allow a year on year comparison.
This year the report also showcases a number of success stories, providing insight into key market trends being seen across the county as well as drivers of sustainable growth.
Essex success stories
Turnover and profits are both up, with most of this growth being organic. The majority of companies have achieved growth by improving internal processes, reinvesting in staff and skills and focusing on refining the products and services they provide.
Not only did the number of employees increase by more than 10%, the average wage increased from £28,189 to £30,036, demonstrating a desire to attract and retain talent.
This focus on creating organic growth and controlling costs shows the lack of desire for significant change within businesses while the outcome of Brexit is outstanding.
Nevertheless, the resilience being shown by businesses suggests a growing county confident in its entrepreneurial roots.
Discover key information regarding regional trends and learn more about our Essex Limited report.