Member Article

Opencast among north east's fastest growing companies

TYNESIDE-headquartered tech consultancy Opencast has been ranked 20th in a list of the 50 fastest growing companies in the North East.

The prestigious Ward Hadaway North East Fastest 50 Awards, in association with leading North East publication The Journal, celebrate growth, innovation and the commercial achievements of North East businesses. The rankings were announced on 4 November at BALTIC in Gateshead.

Based on financial data filed with Companies House, the list ranks the 50 best-performing privately owned companies that have consistently increased turnover over the past three financial years, whilst remaining profitable.

Opencast is ranked 20th in the list after another year of sustained growth that saw turnover increase by 55% year on year. The company has scaled rapidly in the past year, with significant increases in both financial performance and people numbers that have exceeded expectations. Today the company employs close to 400 people.

2022 has seen Opencast celebrate its 10th anniversary – and it has been busier than ever for the business. Alongside a new corporate HQ, it has opened office hubs in London, Leeds and Edinburgh.

Its inclusion in the fastest 50 list came days after Opencast was named as the region’s most loved workplace in the annual Newsweek rankings. The 2022 UK Top 100 Most Loved Workplaces list is the result of Newsweek’s collaboration with the respected Best Practice Institute (BPI), a leadership development and benchmark research company.

Damien Charlton, partner at Ward Hadaway’s Newcastle Office, said, “Congratulations to Opencast for featuring in the 2022 Ward Hadaway North East Fastest 50. It’s an incredible achievement and testament to your talented team, innovation and passion for your business and the industry you work within.

“Sectors including manufacturing, engineering, construction, technology and retail feature in this year’s Fastest 50 and we’re seeing regional businesses continue to excel which, in turn, has seen continued growth and development.

“This year’s Fastest 50 list demonstrates the unique spirit of North East businesses and how they’re determined to push boundaries, try something different and overcome any challenges they face along the way. We’re delighted to celebrate this recognition with you, and you should feel extremely proud of your achievements.”

Opencast chief executive Tom Lawson said: “We are very pleased to be included in the top 20 of the Ward Hadaway Fastest 50 list of North East businesses. Opencast’s growth, which has been way faster than expected, is in response to increasing demand from clients who are tackling complex challenges. Many of these clients and partners are in government, delivering important public services to citizens.

“We expect our growth to accelerate even faster in the coming year. I’m proud of everyone working at Opencast during this period of sustained growth. Despite our rapid growth, we’re determined that Opencast won’t lose its people-focused culture – and looking after our people remains a top priority.

“Congratulations to all the great businesses on the Fastest 50 list – and thanks to Ward Hadaway for the work it does to promote North East enterprise.”

This was posted in Bdaily's Members' News section by Hoults Yard .