Recent research by the Enterprise Research Centre (ERC) has revealed that the number of ‘high-growth small and medium businesses in the UK is at the highest level since the early 2000’s dotcom boom.
Defined as companies with at least 10 employees and an average growth of 20% in employment from 2012 to 2015, the research indicates there are now 11,855 ‘high-growth’ small and medium businesses in the UK – with a ‘striking’ amount of high-growth firms (HGF) now based in areas outside London. Regionally, the number of HGF’s in Birmingham rose by 42%, with over 312 high-growth small and medium sized businesses now based in the city.
Excluding London, England saw its number of HGFs rise by 36% from 5,755 in 2009 to 2012 to 7,855 in 2012 to 2015. Over the same period, the number of HGFs in London rose by just 15%, from 2,105 to 2,430 and continues to have the largest number of HGF’s overall than any other UK city.
For more information on the research, visit: http://www.enterpriseresearch.ac.uk/erc-insight-paper-released-february-19th-2016/