22 September 2011
Business academics at Aston University have been undertaking research into the “geography of growth” on behalf of NESTA (National Endowment for Science, Technology and the Arts)
The research team of Michael Anyadike-Danes, Karen Bonner and Mark Hart investigated the geography of UK high-growth firms* and their role and contribution to economic growth.
The key findings, illustrated on the NESTA website, highlight:
More than 40 per cent of UK high-growth firms are located outside cities, yet generate around half of all new jobs
Business services, manufacturing and construction are the top three sectors by number of high-growth firms
High-growth firms are particularly resilient during a recession and make up 7 per cent of all UK firms.
Mark Hart, Professor of Small Business & Entrepreneurship at Aston Business School said: “As a first output from the programme of research on High-Growth Firms at Aston Business School funded by NESTA we have addressed the issue of where are these exceptional firms located. NESTA has taken our data and developed an innovative interactive map of city regions across GB to allow policymakers and those organisations seeking to promote business growth at the local level to know what’s already on their doorstep. We see this as an aid to more effective policy delivery.”
The research findings have been used across a range of media including Richard Tyler from The Telegraph in his article Telegraph 1000: Britain’s Brightest Businesses.
NESTA is an independent body which aims to help make the UK more innovative. It invests in early-stage companies, informs policy and delivers practical business programmes.
For further details, contact Kreesha Pattani, Aston University Communications on 0121 204 4552
Notes to editors
*High growth firms are defined by:
Surviving the three-year period.
Employing 10 or more people at the start.
An average annual employment growth of more than 20% over a three-year period.