SMALL and medium-sized businesses (SMEs) in Oxfordshire have experienced the UK’s second strongest growth in turnover in the last three years, according to new research by BGF, the UK and Ireland’s most active investor.

BGF’s research calculates growth through changes in turnover and employee size among Britain’s private companies.

Oxfordshire businesses in this group have experienced turnover growth of more than 21.4 percent - or £743m - in the last three years.

This is the second highest turnover growth in the UK, according to BGF.

James Austin, an investor at BGF, said: “For the first time, we can see a picture of the SMEs that make up this group across the UK, and the activity, productivity and progress that they are bringing to the economy.

"It’s encouraging to see such strong growth in Oxfordshire – it’s imperative that we work to safeguard these businesses by providing them with the support they need to grow.

"By unlocking capital to accelerate growth among businesses like these will have a major and genuine impact on industry, the economy and society.”

The data has been released as part of BGF’s Ready for Business campaign, which will see BGF confidently advocate for continued growth, committing to entrepreneurs and investing in the age of uncertainty.

Oxford-based Adestra, a leading provider of innovative marketing technology software and services, was backed by BGF between January 2016 and January 2019.