The Rise of the Scale Up
[vc_row][vc_column][vc_column_text]Definition: A ‘scale-up’ is an enterprise with average annualised growth in employees or turnover greater than 20 per cent over a three-year period, and with more than 10 employees at the start 1.
Why are they important: the number of scale-ups in the UK lags the US and other leading economies. Boosting the scale up population by just 1% could create 228,000 jobs and add £38bn to GVA2 2.
A business can be classified as a ‘Scale-Up Business’ using the definition provided below:
- Minimum of 10 employees at the start of the engagement.
- Achieved minimum £500k turnover in last year (operating for at least 3 years).
- Potential/aspiration to grow turnover and/or profit by a minimum of 20% per annum over a 3 year period
A Future Scale-Up Business is can be classified by using the definition provided below:
- Minimum of 5 employees at the start of the engagement
- Achieved minimum £250k turnover in last year
- Potential/aspiration to grow turnover and/or profit by a minimum of 50% per annum over a 3 year period
Scale up businesses are critically important to economic growth. If we increase the population of scale up businesses we will create a step change in economic performance. The 2014 Scale Up Report suggests that a more robust ecosystem needs to be developed by the government, local authorities and universities. The focus should be on;
- Developing Scale up leadership
- Targeting, supporting, promoting and reporting on scale-up gap closure
- Accessing talent
- Increasing customer sales at home and abroad
- Financing scale-ups
- Accessing infrastructure
The report Scale Up Report highlights how businesses wishing to scale up and investors see growth differently and identifies key attributes needed for them to work together.
Here are DropJaw we are working with many Scale up Business achieve their true potential. To learn how, please email firstname.lastname@example.org
 Sherry Coutu The Scale-up Report on UK Economic Growth 2014[/vc_column_text][/vc_column][/vc_row]Other news