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The rise of the super SME

The rise of the super SME

Vanessa Cresswell

Vanessa Cresswell

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New research has highlighted the significant contribution that Britain’s fastest growing smaller companies are making to the UK economy.

According to a report commissioned by Octopus Investments and produced by the Centre for Economics and Business Research (CEBR), just 1% of the UK’s businesses are fuelling 68% of employment growth and generating 36% of the UK’s economic growth.

These high-growth small businesses (HGSBs) are defined as having an annual turnover between £1 million and £20 million and with average annual growth greater than 20% over a three-year period.

The report found that, on average, these super SMEs created nearly 5,000 new jobs a week from 2012 to 2013 – which represents two out of three of all new jobs created in that time and more than 250,000 jobs across the UK altogether.

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