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Small companies with high growth are packing a punch outside London

Employee's, Increased workforce by 20% a year for three years - SantanderCB

'High-growth companies' – businesses with 10 employees or more that have increased their workforce by at least 20% a year for three years – have become an increasingly noticeable part of the UK's economic landscape. Such companies have now reached their highest number since the early 2000s, and new research shows they are being created at a faster rate in cities such as Leeds and Southampton than in London. The Enterprise Research Centre says there are nearly 12,000 of them in total in the UK – the highest level since the dotcom boom. Their numbers are growing twice as fast outside London, though the capital still has the highest proportion of any city. High-growth or 'gazelle' companies are usually found in sectors such as technology, professional services or advanced manufacturing. According to the ERC, high-growth companies created about a third of private-sector jobs between 2012 and 2015 and accounted for 7.5% of all companies with more than 10 workers. In London the figure was 9.5%.

 

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