News

2015.03.03 10:29

Inc. mentions Vilnius as one of best European cities for fast-growing businesses

DELFI.lt 2015.03.03 10:29

Vilnius has been ranked 4th in Europe as a city for fast-growth businesses. The list, compiled by influential US business publication Inc., rated European cities on the number of companies that made it to Inc.'s 5000 Europe list of rapidly-expanding enterprises, Invest Lithuania reports.

Vilnius has been ranked 4th in Europe as a city for fast-growth businesses. The list, compiled by influential US business publication Inc., rated European cities on the number of companies that made it to Inc.'s 5000 Europe list of rapidly-expanding enterprises, Invest Lithuania reports.

"As the capital of Lithuania and one of the largest financial centres in the Baltic region, it may not be so surprising that Vilnius also boasts some major small-business talent. Eighty-six companies based there made this year's Inc. 5000 Europe. The fastest-growing private business in Vilnius, BGroup, produces and supplies steel to more than 15 European countries. That company brought in roughly EUR 13.8 million in revenue in 2013, representing a three-year revenue growth of 2,727 percent. While Vilnius is known for its iconic Old Town - the largest surviving medieval town in Northern Europe - the city has plenty to offer entrepreneurs of the future," the publication said.