high-growth business

‘Micro’ Firms Transforming The UK’s Business Landscape

Proportion of micro businesses rises 43% as amount of high growth firms drops by over 20% The number of ‘micro’ businesses has grown by 43% since 2000, with the UK now boasting 1.4 million companies with less than 10 employees. In contrast, the number of high growth firms has fallen by 20%, with zero-employee companies the fastest growing segment since the recession. The research, conducted by the RSA and titled Growing Pains, considers business owners’ views and public economic data. It found that as micro businesses have been the more dominant form of business, whereas high-growth companies – those achieving on average 20% annual growth in employment for three years – have been struggling. The research found that most mid-sized businesses fail to grow (79.9%) with more becoming small bus... »