MILTON Keynes’ most successful privately owned businesses have delivered a powerful statement of growth and resilience, as revealed in the latest MK50 report from Grant Thornton UK.
The region’s largest private companies have collectively generated £1.7 billion in turnover, an increase just under 24% on the previous year.
MK50 is an annual study of the financial performance of the largest 50 (by revenue) privately owned businesses in the Milton Keynes area. This year’s cohort spans a turnover range from £10.2 million to £187.5 million, highlighting the diversity in scale across the businesses represented.
A 5.4% increase in fixed assets to £497.4 million among the top 50 companies signals that sustained capital investment is being made towards future growth. This reflects both the ambition of these businesses and their confidence in the long-term prospects of the region, Grant Thornton says.
The report also shows that employment figures across all top 50 companies have seen a notable increase. The total workforce now stands at 13,048 people, a 9.6% uplift compared to the previous year.
Average salaries have risen by 6.2% to £33,290, indicating not only robust business performance but also an improving environment for employees, the report says.
The MK50 includes businesses from seven key parts of the economy. The technology, media and telecommunications sector accounts for the highest number of businesses at 11. However, the business support services sector leads in total turnover at £527.1 million, followed by real estate and construction at £362.5 million, and manufacturing and industrials at £270.6 million.
Among the most prominent companies in this year’s list are recruitment and consultancy firm TXM Group and high-access platform manufacturer Niftylift.
TXM Group, based in Wolverton and known for its expertise in engineering and technical recruitment, has seen substantial growth through international expansion and sector diversification.
Niftylift, whose headquarters (pictured above) are at Shenley Wood, continues to lead with its innovative access platforms, designed and manufactured in Milton Keynes and exported globally. Its commitment to sustainable technology and automation has helped it earn a dominant market position.
The report also recognises the important contribution of internationally owned businesses with significant operations in Milton Keynes. A separate spotlight on 25 key subsidiaries ranks Volkswagen Group United Kingdom, IKEA and Ingram Micro UK as leading contributors.
These companies bring not only capital investment and employment but also reinforce Milton Keynes’ status as a vital node in global supply and distribution networks, the report says.
Mike Tillson, partner at Grant Thornton UK in Milton Keynes, said: “The MK50 is more than just a financial snapshot – it celebrates the ambition, innovation, and leadership behind the businesses that are helping shape the economic future of Milton Keynes.
“The outstanding performance of the top 50 private businesses is making a huge contribution to the regional economy.
“Backed by Milton Keynes’ strategic location, robust infrastructure, and dynamic business environment, we look forward to the private sector’s continued success in 2025.”
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