So, looking for more information on the UK’s most profitable companies, here’s what I found:
1. Many of them are software and fintech companies. – and some of them aren’t even very old! Fintech companies are often the ones that have solved various online problems with financial transactions. If you think about it, it makes a lot of sense. All banks have the same problems with everything from security to knowing where and to whom money is being sent. Wise – a fintech company solves banking issues around international payments and ensures that payments are sent and received without delay. Revolut is one such company that has 16 million global users and even facilitates overseas currency transactions and cryptocurrency.
2. Building a great platform Doing business on it is also very profitable. Platforms like Edume help employers train employees online. Doctify allows people to get medical care and connect with the best clinics and hospitals. It is true to say that some platforms have revolutionized education and online shopping.
3. Create a new customer experience. Here are some standout companies that offer this. Namely Brewdog and Improbable World. Brewdog has built its pubs around fun and entertainment, with different beer flavors, beer for dogs and a hipster vibe, making it a great place for people to meet and enjoy each other’s company. They create truly welcoming spaces. Improbable World is a software and gaming company that creates immersive experiences for users that make the online world feel real.
4. Solve new problems.. Here is a great UK success story called Darktrace. This cyber security firm uses AI to detect threats, fraud and cyber attacks. In an increasingly online world, Darktrace is preventing hacking and misuse of computers by bad actors. Kazoo, on the other hand, allows people to buy and sell cars online – a service that came into its own during the pandemic. However, my all-time favorite in this category is Inmarsat, a communications company that provides data and telephone services to a wide range of companies and governments worldwide. Inmarsat was born to serve the maritime industry and allow this important part of the economy to be digitally connected, so that all shipping can be monitored and tracked. It then spread to other forms of transportation. However, Inmarsat gained notoriety in 2014 when they tracked the signals of Malaysia Airlines Flight 370 which disappeared from radar coverage shortly after take off. Within a short time, Inmarsat provided the authorities with accurate location data that was automatically pinged from the Rolls-Royce engines, when all other forms of communication were cut off.
Interestingly, all these companies have one thing in common. They are built on a vast amount of intellectual property. And the interesting thing about it is that the statistics show:
Research on businesses with registered IP shows that they typically grow 60% faster.
In the UK, IPO research has also indicated that businesses that own IP are 40% less likely to default on loans.
And if they do, from the creditor’s point of view, it turns out that there is 50% less loss.
Building an IP is also a great way to be a part of the future. As Abraham Lincoln famously said, the best way to predict the future is to create it. It’s also a way to make your business more profitable and future-proof.
My mission is to help businesses create maximum value from their intangible assets. I can be contacted at:
Tel: +44 113 237 9900