A tiny group of UK companies are punching well above their weight showing they can be a significant force in driving the country’s economic growth, increasing UK productivity, skills and employment, according to a report published today.

 

One in every five new jobs in the UK and more than 20 per cent of economic growth was created by high growth small businesses between 2015 and 2016. Representing less than 1 per cent of UK business, these 22,074 companies created on average more than 3,000 new jobs each week.

 

The Octopus High Growth Small Business Report 2018, commissioned by Octopus Group (Octopus) and produced by the Centre for Economics and Business Research (Cebr), highlights the significant economic value of the UK’s fastest growing smaller companies. HGSBs are defined as companies with more than 20 per cent average annual growth over three years, and between £1 and £20 million of annual turnover.

 

 

Read the full article here.