The United Kingdom is the third-largest national economy in Europe by nominal gross domestic product (just after Germany and Russia). The most developed area is a service sector, which contributes about 80% of GDP. The UK is perceived as a good place for company registering. There are some options to choose, depending on the liability and financial capacities and the whole process is easy to go through. There is no wonder that we can point so many entities who run up a business in the United Kingdom – the number of Small or Medium Enterprises was about 5.7 million in 2017. The special attention should be paid to the UK largest companies, which names are known not only in this country, but all over the world. We are sure that you also have heard about them, so lets see what businesses gain the best profit.
The TOP 10 the largest companies in the UK
There are some kinds of ratings we are able to measure the greatness of top companies. The ascertainment might be founded upon the number of employees or rate of production, but in this article, we would focus on the richest companies in UK – it means the businesses which revenues are the highest in the legal year.
GlaxoSmithKline, commonly known as a GSK with its characteristic orange logo. The estimated revenue is about $US 40 billion, and the establishment was in 2000 by a merger of Glaxo Wellcome and SmithKline Beecham. GlaxoSmithKline is a pharmaceutical company, which produces popular products for a global scale. Surely you have seen Aquafresh tubes of toothpaste in many groceries stores, or Nicorette nicotine replacements in pharmacies. The company has over 99, 000 employees in different areas in the world and as a first pharmaceutical group, made malaria vaccine in a form of RTS.S.
With the revenue over $US 53 billion, Vodafone has the ninth position in the presented list. The company is a telecommunication provider which operates in Asia, Europe, Oceania and Africa. Strictly speaking, you can find its own services in 25 countries and the interesting fact is that in 2010 the company launched the cheapest mobile phone in the world, which costs about. $US 15. And the name of Vodafone comes from the first letters of words: Voice Data Fone. It also cooperates with other technological entities towards creating new solutions for mobiles, such as a special application for Indian teachers to use multimedia content for enhancing their way of teaching.
8. Legal & General
Legal and General Group PLC is placed eighth in our ranking of the largest UK companies. The revenue is over $US 56 billion and just after BlackRock it is the second richest European investment management firm. Legal & General aims for becoming a leader in affording digital access to different types of insurance, and what is more, the company was even the winner of Insurance Times Claims Technology Solution. The entity invests also in many innovative projects, e.g., tech properties for future cities and puts money into environmental solutions like offshore wind farms.
Products of Unilever are known all over the world – you can meet them under the brands of Dove, Axe, Omo, Magnum, Lipton, Rexona or Sunsilk. The company handles production and distribution of customer goods, from food and beverages items, to beauty and personal care or home care articles. This is one of the most successful businesses in UK with the revenue at $US 62 billion. Unilever is also known from its charity and environmental actions on the grounds of Sustainable Living Plan, which improves livelihoods and gives more chances for women or reducing greenhouse gas emissions from transport, refrigeration or washing clothes.
The history of Aviva goes over 320 years back. This well-known insurance company operates more than 33 million customers with main seven markets in UK, France, Poland, Canada, Ireland, Singapore, Italy. Its revenue is estimated for about $US 65 billion for 2017 and only in the same year, the company got 800 000 new clients. Aviva offers many saving instruments, including life, general and accident or health insurance and, additionally, it supports sports clubs such as Norwich City Football Club or rugby team English Premiership.
5. HSBC Holdings
HSBC Holdings is a banking and financial company, which was established in 1865 in British Hong Kong as a Hong Kong and Shanghai Bank. Only in 1991 it has become a public limited company with the present form HSBC Holdings. The entity is not only an example of the top financial services companies in UK, but it is the biggest bank in Europe with about $US 67 billion in revenue. In the structure of the entity, we can pick four main business groups out: Global Banking and Markets, Retail Banking and Wealth Management, Commercial Banking and Global Private Banking. The HSBC operates in more than 60 countries and in 2014 it was the sixth-biggest public company from the global perspective by Forbes magazine.
One of the most popular multinational companies in UK. Undoubtedly, all of us have heard about this grocery store, and the majority of us have shopping done there. The revenue of Tesco is estimated for over $US 73 billion and the number of locations is about 6,500 shops in different worldwide areas. The store gets into supporting its employees by way of many learning operations and tolerant programs. What is more, Tesco puts a high value on environment and set objectives in regard of reducing absolute carbon emissions – even 100% less by 2025 year.
3. Prudential Public Limited Company
Prudential Public Limited Company opens the podium. Its revenue for 2017 is about US$ 114 billion. The purpose of the company is to provide life protection measures for people from different parts of the world. The number of customers is over 26 million and there are some particular groups of Prudential depending on the country, for example Jacson in US, Eastspring Investments in Asia, or M&G Investments in Europe. It is also known for a festival of cycling Prudential RideLondon and supporting charities such as SportsAid and Chairman Challenge.
And the second place goes to The British Petroleum Company plc (BP). One of the richest multinational companies in UK is renowned for exploration, distributions, power generation and trading of oil and gas minerals. It was founded 1909 by William Knox D’Arcy and currently its revenue is estimated at over US$ 244 billion. BP operates in over 70 countries and you can meet its brands such as Aral, Castrol, Amoco, Wild Bean Cafe or ampm. Next to the raw minerals production, the company is one the sponsors of Red Bull Air Race, Renault F1 and the partner of International Paralympic Committee.
Royal Dutch Shell (well-known as a Shell) company is a top of the top biggest companies in the UK. This oil and gas provider handles the array operations connected with raw materials exploration, production, transport, distribution, marketing and trading. When we look back, the business was established in 1907 and during the First World War was the major supplier of fuel to the designated corps British Expeditionary. Nowadays, it reaches over US$305 billion in revenue and during the years has patronised successful motorsport organisations such as BMW Motorsport, McLaren or Hyundai Motorsport.
The company operates in over 70 countries, hires about 90,000 employees and has interests in 21 refineries. In addition, Royal Dutch Shell also supports many social programs and in 2017 it appropriated $111 million for worldwide investments. This the largest UK company is engaged in environmental activities and cooperates with organisations all over the world towards finding out natural climate solutions.
Multinational companies in UK you have heard about!
Shell, Tesco, Unilever or GlaxoSmithKline – entities presented above, belong under the largest UK companies by revenue. Out and way you have heard its names, or even used the services, but maybe you don’t know that these businesses are British by now. Naturally, there are more companies from UK which deserve award like Sainsbury’s chain of supermarkets or public service provider BBC. Maybe in next year, these entities would place in our ranking of the 10 top UK companies. No matter what kind of legal field it presents, we keep our finger crossed for all innovative, pro-tolerant and humanitarian projects and ventures!