The Sunday Times Scotland Fast 50 has been published, listing the top 50 companies, headquartered in Scotland, that have achieved exceptional growth at scale and speed. The final selection highlights the diversity of Scotland’s economic base.
The new index, backed by Cazenove Capital and supported by S&W and the Scottish Government, showcases companies from across a range of sectors and parts of the country.
Some 17 of the 50 – more than one-third of companies named in the list – were founded in the last decade, with five of those starting in 2020 or subsequent years.
Some companies in the list include:
- Apparel maker Dfyne – an activewear brand which in 2025 took its Glasgow-based business from 60 people to 180, opened a 50,000 sqft automated warehouse and moved into a 40,000 sqft new head office. In its trading year to May 2026, it chalked up turnover of £152 million, with 90% of it from overseas.
- Luxury goods firm Strathberry – an affordable luxury accessories brand, founded in Edinburgh by husband and wife, Guy and Leeanne Hundleby, and best known for its handbags. Its products are sold to customers around the world, including the US, Europe and Middle East, gaining visibility from high-profile figures like the Princess of Wales.
- Make-up specialist Vieve – founded by Scottish make-up artist Jamie Genevieve in 2020, the business was conceived as an accessible, education-led brand and has gained traction among professional make-up artists.
- Metalworker Forsyth – based in the North East of Scotland, the business is best known for its work making distillery equipment. It recently completed a major project, the Dalmore Distillery Expansion – crafted to significantly increase production capability while maintaining exceptional standards.
- AI firm Aveni – the Edinburgh-based firm was founded in 2018 and drives the use of artificial intelligence in financial services. It recently secured new funding to accelerate the development of its new products, designed to assess the conduct risk of AI agents interacting with consumers.
- Balmoral Group – entrepreneur Sir Jim Milne’s sector-leading strategic investment family firm, with annual sales now surpassing £200 million. The Group has plans to invest over £50 million in ventures ranging from continued evolution of its existing portfolio to new opportunities in high-growth sectors.
Alongside the software and biotechnology groups are those in engineering, construction, retail, food and drink, social care and manufacturing, proving there are ways to grow in more traditional sectors.
The list spans rural businesses providing employment in local communities to ambitious technology companies and long-standing family firms which are still growing after generations.
Some have used private equity, bank and state lending to bolster their trajectories, while others have been bootstrapped by founders or long-standing shareholders.
Those included had to meet the criteria of an average annual growth in revenue of at least 20 per cent across the two most recent financial years. Companies were also asked about strategy, job creation, fundraising and plans for further expansion.
These firms have started-up and scaled through a backdrop of Brexit, Covid and widespread geopolitical uncertainty. These business owners and directors have also seen six UK prime ministers come and go while they are on to their third Scottish first minister.
Several are already selling into overseas markets while others are just at the start of their exporting journey.
Dale Miller, Scotland editor of The Times and The Sunday Times, said: “The beating heart of Scotland’s economy is driven by a host of often quiet achievers – successful companies growing at pace and leading progress in their respective sectors.
“These firms, managed by forward-thinking owners and directors, are prospering in the midst of a difficult economic climate where costs are only rising. It is more important than ever to celebrate these quiet achievers – which is why we are today unveiling our inaugural The Sunday Times Scotland Fast 50 list.
“The list features industry trendsetters, from Scotland’s rural champions to female leaders and our best family businesses. The inclusions, chosen by an expert panel of judges, range from companies like Aveni, founded in 2018 and driving the use of artificial intelligence in financial services, to the heft of the Balmoral Group – a sector-leading family firm whose annual sales have now surpassed £200 million.
“This list is not about solely cataloguing Scotland’s highest income-generating companies, which is why we have chosen not to rank the 50 firms included. It is about showcasing those firms which are growing successfully and sustainably in their respective sectors, and best represent Scotland’s entrepreneurial spirit. My congratulations to all those who feature in this year’s Sunday Times Scotland Fast 50.”
The judging panel was made up of Ana Stewart, Scotland’s chief entrepreneur; Bob Hair, head of UK regions at Cazenove Capital; Gemma Hamilton, origination partner at Business Growth Fund; Malcolm Kpedekpo, investment partner at Panoramic Growth Equity; Chris van der Kuyl, the serial entrepreneur who runs computing gaming studio 4J; and Greig Cameron, Scottish business editor at The Times and The Sunday Times.
Ana Stewart believes the list allows the opportunity to “identify, acknowledge and celebrate these businesses”.
She said: “It shines a light on a diverse group of rapidly scaling businesses that are creating jobs, generating wealth and delivering significant economic value across Scotland. These companies are growing locally and globally while choosing to keep Scotland as their headquarters.”
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A spokesperson for Cazenove, headline partner, said: “Scotland has a vibrant, innovative entrepreneurial ecosystem, and it’s a privilege for Cazenove Capital to have the opportunity to recognise the people behind these high-growth businesses as they scale, create jobs and build long-term value.” – Bob Hair, Head of UK Regions at Cazenove Capital
Graeme Miller, Partner at S&W – Scotland, supporting partner, said:
“Congratulations to all the companies shortlisted for this year’s Sunday Times Scotland Fast 50. The calibre of companies recognised is inspiring, each one representing the energy, ambition and innovation that underpins Scotland’s dynamic entrepreneurial ecosystem and how much Scotland has to offer. It’s exciting to see so many companies across such diverse industries pushing boundaries, scaling rapidly and making a real impact on the wider economy. At S&W we’re proud to support ambitious, high-growth businesses, and we look forward to following their continued success and celebrating their achievements later this year.”
