New report reveals Fast Growth can come from anywhere
SMEs with rapid growth potential occupy all sectors and locations in England, and can be at any stage of their lifecycle, new analysis by GrowthAccelerator, the government backed advice and support service, reveals.
A common perception is that fast growth is the preserve of start-ups in technology-driven sectors. But new analysis of companies accessing the government-backed GrowthAccelerator service shows that high growth can literally come from anywhere, as long as the management team has the ambition and skills to make it happen.
The findings are revealed in GrowthAccelerator's first annual report, which also outlines the significant uptake and impact of the service among businesses with high growth potential nationwide.
This includes:
* Over 7,000 businesses signed up since launch in May 2012
* 3,400 businesses already increasing their turnover more quickly since engaging with Growth Accelerator
* 3,100 businesses taking on more staff more quickly
* 60 per cent of clients are over five years old, one third are over 10 years old
* 110 specialist Growth Managers and over 1,000 Growth Coaches recruited to work with businesses with high growth potential
GrowthAccelerator, launched as a partnership between the government and the private sector in May last year, is now working with over 7,000 of England's brightest businesses. Survey results suggest it is already accelerating the growth of the vast majority of these firms' turnover and employment. The service now has more than 1,000 growth coaches in operation across the country, and reports near 100 per cent satisfaction from the businesses it is helping.
Other key findings from the report include:
* Still got it: High growth can be delivered at any stage of a company's lifecycle, not just at startup
* Urban myth: High growth companies are just as likely to be located in rural areas as in urban locations in England
* National express: High growth capability is not the preserve of London and the South East, but a nationwide trend
* It's not what you do, but how you do it: GrowthAccelerator businesses are spread across all sectors - the only thing they have in common is that they are set to outperform their industry, whatever it may be
For a copy of the report, please visit: http://www.growthaccelerator.com/where-high-growth-happens/
For further information, please visit http://www.GrowthAccelerator.com
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