Now in the second year of its Central South Mid Market focus, BDO LLP has identified the region’s 20 mid-market ‘companies of tomorrow’ – four of which are based in Portsmouth and West Sussex.
These 20 businesses, between £5-10million turnover, are showing the sustained growth and potential to break through the £10million mid-market threshold in the near future and in some cases this has already happened since the analysis was undertaken.
The four local companies named on BDO’s list include C.G.H Holdings Limited, Edale Limited, Oceanair Marine Ltd, and Southern Monitoring Services Limited.
James Tetley, Tax Director at BDO, explains: “There are limited government incentives aimed at helping businesses break into the mid-market bracket, despite these companies contributing huge amounts to the local and UK economy.
“Some of the challenges for companies making this ‘step change’ and preparing for their next phase of growth is how to drive a more corporate focus, build on the skills of the core management team and instigate quite often significant structural changes into a business whose very reason for success to date has been its lean structure.
“Companies should be planning and preparing early – whether this means getting the business structure right, considering efficient tax planning, incentivising new management, aligning goals with the founders, or instilling company-wide disciplines that will attract next-stage investments.”
