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The scale-up challenge
A new proposition supporting UK business growth
Monitor Deloitte were appointed by Sherry Coutu CBE to contribute to the evidence base underpinning her independent report to Government: ‘The Scale-up Report on UK Economic Growth’.
The Scale-up programme put forward in Sherry’s main report details a holistic package of support to businesses displaying high growth characteristics. Officially, a High Growth Firm (HGF) is an enterprise with average annualised growth in employees or turnover greater than 20% per annum, over a three year period, and with more than 10 employees in the first year of observation. These firms are relatively rare but have been shown to account for a significantly greater-than- proportionate level of growth.
The package of support includes co-ordinated local level interventions for HGFs by stakeholders in the public, private and third sectors. Basing these interventions on timelier release of public sector information, as well as promoting success to induce positive ‘Role Model’ effects, are likely to magnify the impacts of intervention within the UK.
Benefitting from the input of thought-leaders in the field of Scale-up ecosystem intervention, our report concludes that Scale-up could have a material impact on the UK economy if it demonstrates the type and level of ‘additionality’ seen in other, albeit smaller-scale, programmes in the UK and overseas.