#EMTop500 Sponsored by In association with FOREWORDS I am pleased to introduce the second report on The East Midlands Top 500 Companies (EM Top 500) on behalf of Bradgate Estates Ltd De Montfort University. The East Midlands is a dynamic The EM Top 500 The Top 500 team brings together leading region, its core encompassing the was launched researchers from the Business Schools at three county cities of Leicester, successfully De Montfort, Derby and Nottingham Trent Nottingham and Derby. There in 2020 and Universities. We greatly appreciate their are internationally recognised celebrates the contributions, together with the business Universities producing world- business success leadership from East Midlands Chamber, changing research. This results of the East Midlands as a region with a the excellent online coverage through in innovations with commercial strong, diverse and resilient range of firms. ‘Business Live’ from Reach plc, and the applications which depend on partnerships with public and They contribute greatly to the economic valued sponsorship from Bradgate commercial enterprises to reach their potential markets. regeneration and growth of the region. Estates Ltd. The region is home to many successful local and De Montfort University is proud to work international companies vital to our economic future. with the region’s businesses, and to Professor Heather McLaughlin Bradgate Estates Ltd and its Abode subsidiaries are educate future generations of business Pro Vice-Chancellor, a Leicester-based residential property development and community leaders. Dean of the Faculty of Business and Law company. We identify Brownfield sites throughout the East Midlands to develop on behalf of UK and European Pension After a year and a half that has presented unprecedented Property Investment Funds, bringing fresh capital to invest challenges for businesses across a whole host of sectors, in the region. it’s vitally important to take stock and celebrate success. For example, Abode is completing a £20 million development in Nottingham’s historic Lace Market, providing 130 quality private apartments to rent, working We’re lucky to have so many great while many of with the local councils, using local suppliers, skilled businesses on our doorstep, packed with the top positions subcontractors across various disciplines, professionals household brands and many others less remain stable, such as architects and lawyers and local manufacturers. well-known but who are titans of their it’s interesting This year Bradgate Estates are sponsoring the East industries. to observe which Midlands Top 500 Companies index. Local universities are The East Midlands is the engine room companies have climbed the table creating business leaders of tomorrow and this initiative of the UK’s economy – a manufacturing and those that have fallen. shines a light on some of your region’s success stories... powerhouse, a hotbed of innovation, and While eyes will initially doubt be drawn to ‘from little acorns great oak trees can grow’. a logistics hub that can put the region at the high-profile businesses, looking down This is our way of encouraging inter-regional and company the centre of Britain’s post-Brexit global the list makes it clear that there’s a wide dialogue, and closing the gaps between the region’s trading relationships. None of this has variety of smaller companies that make our businesses with our excellent academic sector, local changed as a result of the pandemic, so it’s economy tick. It also demonstrates councils, and the East Midlands Chamber of Commerce more crucial than ever to shout about what the strength of the region’s supply chain to enhance the economic prospects for all in the region. I we’ve got with a united voice – because we in becoming interconnected, and providing encourage our local companies to host more of our local have an amazing story to tell. much of the employment, skills and university and business school graduates to capitalise on The East Midlands Top 500 Businesses innovation the region builds its the knowledge and skills they can offer. Index sets this out in vivid detail, reputation on. showcasing the huge contribution our Anthony Parker. region makes to UK Plc and the strength Scott Knowles Finance Director, and depth of our business community. Chief Executive, Bradgate Estates It’s the second listing of its kind and East Midlands Chamber INTRODUCTION, PURPOSE, HEADLINES The East Midlands Top 500 Companies index shows the range and strength of the leading businesses in the East Midlands, across the ‘Three Counties’ of Derbyshire, Leicestershire and Nottinghamshire areas covered by the East Midlands Chamber. These businesses are at the heart of the East Midlands economy and are high on the list of those most likely to drive growth and create jobs in the future. Their prosperity affects not only the workforces, supply chains and the communities around them, but ultimately everyone in the region. The first EM Top 500 was launched in May 2020, and was published whilst the effects of the COVID19 pandemic and lockdown were having a daily impact on all our lives as well as many of the companies featured. The East Midlands Top 500 Companies 2021 appears in a changed economic climate in which the region’s businesses have shown great resilience and are responding to the many new challenges and opportunities they face. The EM Top 500 2021, highlights the changes and the businesses which are driving our economy. The Top 20 businesses are announced on Thursday 1 July, when the online Round Table event will focus on the results and what they mean for our region, both now and in the future. The East Midlands Top 500 2021 is a partnership led by Professor David Rae and Dr Rachel English at De Montfort University, with valued contributions from our researchers Deji Olagboye; Zenas Azuma; and from Alex Charles (University of Derby), Dr Will Rossiter (Nottingham Trent University); East Midlands Chamber; Reach Media; and our sponsor Bradgate Estates Ltd. Professor David Rae Editor METHOD, HOW IS EAST MIDLANDS TOP 500 COMPILED AND WHO IS INCLUDED? The EM Top 500 index lists private The 2021 index uses historical data from company performance by around two The gap between the company year-ends and public limited companies with Companies House accounts filed for the years, since companies have up to 9 and publication of the index means the their registered offices located period between July 2018 and June 2019. It months after their year-end to file their information is historic rather than current, in Derbyshire, Leicestershire and ranks companies by their annual turnover accounts. The datasets for the county- but it is not ‘out of date’. The first EM Nottinghamshire. and also includes the number of employees level indices were compiled first, checked, Top 500 published in 2020 means that and the Standard Industrial Classification standardised and then combined into the comparisons are now possible. The index is It does not include large employers who (SIC) recorded. This is accessed via the East Midlands dataset. There are rigorous becoming a valuable baseline for economic have their registered offices elsewhere; FAME database published by Bureau van checks to eliminate duplicates, to remove recovery from the pandemic and for nor does it include public organisations, Dijk. The approach builds on the County- companies which have become insolvent assessing the resilience of businesses and mutually owned, co-operatives and level ‘Top 200’ indices for each County. or in liquidation, and to ensure that groups the wider economy. Educational Trusts which derive most of Because the index is based on company of companies and subsidiaries are shown their income from Government. accounts, it inevitably lags current accurately. WHO IS IN THE TOP 500? HEADLINE CHANGES FROM 2020 These 500 companies based in in the 401-500 tier of the index. These the East Midlands region had include companies to watch in the future a combined turnover of: for continued growth. This also meant that 55 firms left the index. These departures reflect companies whose turnover declined 2021 - £94,365,300,000 or grew less than the index, or who compared with became insolvent, dormant or went into administration; acquisitions or sales; and 2020 - £92,986,948,000 registered office moves out of the region. = 1.48% INCREASE The Top 30 businesses 2021 Looking first at the Top 10 businesses They employed a total of 455,657 people. in the 2021 table, it is surprising how This employment reflects national and few changes there are. The top 5 ‘brand even international employment by these name’ firms are unchanged in their companies, beyond the East Midlands. places. The biggest changes are that Rolls Royce has moved down from 6th to 17th place, mainly for reasons associated with 2021 - 455,657 the corporate structure and reporting locations of its constituent companies. compared with Steris Solutions Ltd has moved down THE NUMBER 1 BUSINESS: 2020 - 454,682 from 10th to 380, again connected with BOOTS UK LTD AND RELATED COMPANIES decisions made by its US owner. As a For the second year, Boots UK Ltd is the Boots UK Ltd, the combined turnover would = 0.22% INCREASE result, Sports Direct (since renamed number one company in the East Midlands, be £8,757 million. Boots Management Fraser Group), Toyota, Eco-Bat, Bloor and based on its turnover of £6.790 million. Services employs the 40,088 staff which Wilkinsons all move up or into the top 10 However, there are several other companies includes the workforce of Boots UK Ltd These represent very modest changes from group. The top 10 consists of retail (4) carrying the brand name Boots in the and largely provides human resources and the previous year, with small increases in automotive manufacturing and retail (3), index which report separately to the parent management services to the group.