Analysis of the winners
This year’s Smarta 100 provides a fascinating snapshot of UK small business today: a cross-section of ingenious new ideas, individuals seeking self-employment after redundancy, the innovators of the cloud and crowd and the fast-growth big businesses of tomorrow.
From the weird and wonderful world of non-spill potties, pillows for long-distance lovers and non-tooth pulling toffee, to market changers like crowd-powered wine dealer Naked Wines, parcel innovator MyParcelDelivery.com and fast-growing retailer WedgeWelly, innovation and entrepreneurship are alive and well in Britain.
Many of this year’s winners have triumphed through adversity. Take Camille Johnson, who set up Pink Ribbon Lingerie after her mother’s experiences struggling to find attractive mastectomy lingerie. Or Mark Buschhaus and Stephen Barnes, who used their £20,000 redundancy pay-off from Woolworths to set up toy retailer Toy Barnhaus, now turning over £1.4million from three stores.
Proving the crucial role small businesses have to play in the future recovery of the UK economy, Smarta 100 revenues total over £65,000,000 with an average turnover of £692,000. They’re contributing more to the nation’s coffers than they’re borrowing too, with over half (51%) entirely self-funded.
One in five has taken private investment; seven used a bank loan to start-up. Five sought funding from friends and family, two were invested in by larger companies, one was entirely crowd-funded and two won investment on TV’s Dragons’ Den.
On average, they are three years and two months old. They employ a total of 740 people, with 9% employing a staff of more than 20. Smarta 100 businesses tend to be running lean operations however, with a growing shift to virtual teams and networks of freelancers – 79% employ fewer than 10 people and 68% fewer than five.
The Smarta 100 also tells us about the people behind Britain’s brightest small businesses. This year’s winners are 55% male, 45% female, aged between 18 and 52 with an average of 33. In case you were wondering, 25% of them are either a Virgo or Libra zodiac sign – with only two Sagittarians!