County Down businesses make their mark in Top 100 Locally Controlled NI Businesses.
Two Local County Down based businesses have made it into the IoD NI Top 100 Locally Controlled NI Businesses sponsored by BDO Northern Ireland. Castlewellan based structural steel fabricator Walter Watson Limited and Downpatrick based Lynn’s Country Foods Limited known for its Finnebrogue Artisan brand, both made the list, dominated by family owned businesses. The local companies collectively employ over 500 people.
The Top 100 list used to identify and celebrate the success of locally owned businesses in Northern Ireland, many of whom have been successful in global markets, all from a foundation built in Northern Ireland.
Sales at these top 100 companies grew by an average of 15% with 70% reporting growth in the past twelve months and an increase in their revenues, with profits ranging from approx. £2m to £49m. Collectively they contributed £12billion in annual turnover to the local economy and employed 55,000 people.
Angela Keery, Tax Director with BDO Northern Ireland commented,
“These ambitious, fast growing companies reflect the rich diversity of business in Northern Ireland, from well-established family-owned companies to the emergence of dynamic new businesses who have identified new markets and customer bases to target.
“Family owned businesses make up the majority of locally controlled firms on the list, many of whom have transitioned from one generation to another. This indicates that these companies are performing at higher levels than expected and are facing many challenges head on. It also demonstrates that there is a wealth of businesses with the ambition to develop new ideas and embrace opportunities to scale up to new levels of success.
“At BDO NI we believe that locally controlled NI businesses can help each other, share in each other’s success and learn from the challenges other businesses have faced.”
Companies that make it into the top 100 come from a diverse range of sectors, including manufacturing, health and pharma care, technology, hospitality, transport and Agri-food.
BDO NI specialises in assisting family-owned and locally-controlled businesses, and in doing so have developed an in-depth knowledge and the required skills needed to navigate through the complexities that many of those businesses face.
