Hot 100: Resilience counts in uncertain times

By Ged Henderson

16 Jul 2024

Hot 100 Logo

Things aren’t getting any easier for Lancashire businesses as they continue to grapple with the unwelcome pressures of increasing costs and heightened economic uncertainty.

See the full Hot 100 in the latest edition of Lancashire Business View

And that volatility is mirrored in this year’s Hot 100 figures, with the total revenues of its companies down from £2.1bn last year to just short of £2bn, while total profit before tax fell by seven per cent.

However, employment figures have only seen a slight drop of two per cent when compared with 2023 suggesting that businesses are still investing in their workforce.

This year’s much-anticipated list, highlighting the county’s most profitable SMEs, also contains a large number of new entries.

Six of last year’s listed businesses have been acquired, ten have grown too large for the Hot 100, while 29 have either dropped down the rankings or ceased filing profit and loss accounts altogether.

Dean Rodgers, accounts and advisory director at PM+M accountants, who once again compiled the Hot 100 list for us, says: “This indicates a level of volatility and market churn which can be attributed to the economic pressures and uncertainty companies are facing.

“However, it’s worth noting that 53 companies have maintained their presence in the list, demonstrating resilience and the ability to navigate the current economic landscape.”

The construction sector, which had a significant representation last year with 35 companies, saw a slight drop to 29 businesses.

Dean adds: “This reduction may suggest a slowdown in construction activities or increased challenges within the sector, such as supply chain disruptions, labour shortages, or rising material costs. However, the sector still plays a crucial role in the region’s economy.”

Businesses in the property, care homes, leisure and tourism, vehicle sales and repair sectors all show strongly in this year’s list.

Looking ahead to the second half of 2024, experts believe businesses in Lancashire are likely to continue facing challenges related to cost pressures and regulatory compliance.

However, Dean believes the resilience shown by the majority of the companies on the list provides a foundation for “cautious optimism”.

He adds: “Overall, businesses may need to adopt more strategic approaches to cost management and efficiency improvements to maintain profitability – innovation and adaptation to changing market conditions will be critical.

“Companies in sectors such as construction may need to explore new strategies to cope with specific industry challenges.

“Despite the challenges, there are positive signs on the horizon. Falling inflation and the anticipation of an interest rate reduction suggest potential improvements in the economic landscape.

“We are encouraged by the cautious optimism already evident amongst our clients and in the wider marketplace. This positive sentiment, coupled with a more optimistic market outlook, suggest a potentially interesting second half of the year for the economy and the businesses of Lancashire.”

Richard Slater, chairman of Lancashire Business View, says: “Once again our Hot 100 list provides a fascinating insight into the health of the county’s economy and the performance of our vitally important SMEs.

“They continue to face significant headwinds but despite uncertainty and volatility they still continue to deliver for their communities. Resilience is hard-wired into their DNA and they are rightly applauded for their efforts.”

See the full Hot 100 in the latest edition of Lancashire Business View

Enjoyed this? Read more from Ged Henderson

Latest news

1

University of Central Lancashire celebrates hat-trick of wins at Educate North Awards University of Central Lancashire winners at Educate North Award Winners 2025

University of Central Lancashire celebrates hat-trick of wins at Educate North Awards

04 Apr 2025

2

The Villa’s sister venue shuts its doors The Villa Levens and The VillaWrea Green (Image credit: The Villa Levens and The Villa Wrea Green)

The Villa’s sister venue shuts its doors

04 Apr 2025

3

PM urged not to retaliate over tariffs Manufacturing

PM urged not to retaliate over tariffs

03 Apr 2025

4

CMAC Group appoints Matthew Ratcliffe as chief operating officer Matthew Ratcliffe CMAC

CMAC Group appoints Matthew Ratcliffe as chief operating officer

03 Apr 2025

5

For sale signs at The Villa Villa Wrea Green has been brought to market (Image credit: The Villa Wrea Green)

For sale signs at The Villa

02 Apr 2025

Pc Prestonmacan Gif980x120 March
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200px
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

Lancashire Business Expo 2025
https---cdn.evbuc.com-images-880395853-4862066883-1-original.20241022-091152-2.jpeg.jpg
LBV Hub Exhibitions
04 Apr 2025 - 04 Apr 2025

Lancashire Business Expo 2025

Sir Tom Finney Sports Centre, Preston, PR1 2HE

09:00 - 15:00

The Business Network Central & East Lancashire
LBV Hub Networking
24 Apr 2025 - 24 Apr 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

People Power: Exclusive Event Series
Stay ahead in 2025.jpg.jpg
LBV Hub Seminars
29 Apr 2025 - 29 Apr 2025

People Power: Exclusive Event Series

People's History Museum, Manchester, M3 3ER

17:00 - 21:00

Planning for the future + navigating Inheritance Tax changes
Planning for the future + navigating Inheritance Tax changes for website.png.png
LBV Hub Seminars
01 May 2025 - 01 May 2025

Planning for the future + navigating Inheritance Tax changes

Stanley House Hotel, Mellor, Blackburn, BB2 7NP, Blackburn, BB2 7NP

08:00 - 10:30

A night at the races
1.png.png
LBV Hub Dinners / Balls
02 May 2025 - 02 May 2025

A night at the races

Morecambe FC, Morecambe, LA4 4TB

19:00 - 23:59

Innovating business solutions through PhD Partnerships
30478 Skills Bootcamp open day setting.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Innovating business solutions through PhD Partnerships

University of Central Lancashire, Preston , PR1 2HE

14:30 - 15:30

Celebrating 50 years of KTP
UCLanAerialCampus.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Celebrating 50 years of KTP

University of Central Lancashire , Preston, PR1 2HE

16:00 - 18:00

Research and Knowledge Exchange Showcase
13421_research_knowledge_exchange_2025_600x300.jpg.jpg
LBV Hub Awards
07 May 2025 - 08 May 2025

Research and Knowledge Exchange Showcase

University of Central Lancashire , Preston, PR1 2HE

09:00 - 17:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv121 Online Graphic
Subscribe now

Weekly news bulletin