As the Fast Growth 50 initiative has shown in Wales for the last 24 years, a small number of high growth businesses make a disproportionate impact on wealth and job creation every year.
The wider impact of such ‘scale-up’ businesses - which grow at more than 20% per annum - is demonstrated by the latest report from the Scaleup Institute which was published earlier this month.
Despite the Covid pandemic, the data presented in the report showed that there were 33,955 scale-ups in the UK generating £1.2 trillion to the economy and employing 3 million people, mainly in higher quality jobs than for the average business.
