Mark Hart

Deputy Director - ERC

Mark is Deputy Director of the ERC and Professor of Small Business and Entrepreneurship at Aston Business School. At the Centre Mark leads on business growth and productivity research to understand the dynamics of the private sector over time and the role of SMEs as well as contributing to the work on growth ambition and access to finance.

Contact Details

Email:[email protected]
Telephone:0121 204 3048
Twitter: twitter.com/@markhart84
vCard:Click to download

Research Themes

  • Business Growth
  • Entrepreneurship

Biography

Professor Mark Hart is Professor of Small Business and Entrepreneurship at Aston Business School, Associate Director of the Aston Centre for Growth, and is one of the Programme Directors and Academic Lead of the national Goldman Sachs 10,000 Small Businesses programme. A 2014 recipient of the Queen’s Award for Enterprise Promotion, he has played a national role in promoting enterprise skills and supporting entrepreneurs as well as advising government on small business and entrepreneurship matters. He is Deputy Director of the national Enterprise Research Centre (www.enterpriseresearch.ac.uk) which is jointly hosted by Aston University and the University of Warwick and has as its mission to understand the drivers of small business growth.  Mark leads on business growth and productivity research to understand the dynamics of the private sector over time and the role of SMEs as well as contributing to the work on growth ambition and access to finance. He also manages the GEM UK national team for GEM Global which is the only international source of annual evidence on entrepreneurial attitudes, activity and aspiration (www.gemconsortium.org).

 

Insight

Business Dynamism and COVID-19 – an early assessment

How will Covid-19 affect business dynamism in the UK? Although, this question is yet to be answered, this paper aims to provide an early assessment by comparing company incorporations and dissolutions in the first quarter of 2020 with the same period in 2019 using the latest available data from the FAME dataset. We observe a drop in incorporations and an increase in dissolutions. The analysis shows that there has been a 70% increase in the number of company dissolutions in March 2020 compared to March 2019. In absolute terms, London had the biggest increase with over 6,400 more dissolutions. In relative terms, this sharp increase was particularly striking in the West Midlands and Wales both of which experienced more than a 100% increase in dissolutions. The sectors particularly influenced by this trend are Wholesale & Retail, Professional Services, Transportation & Storage, Information & Communication and Construction. One important point is that the increase in company dissolutions is driven by young firms which appear as the most vulnerable when facing uncertainty and the current unprecedented challenges.
The UK Government has unveiled a substantive package of support for UK firms, but at the time of writing many firms are struggling to access this assistance and there are some obvious gaps in the range of initiatives announced. If those shortcomings are not remedied quickly, it is foreseeable that we will continue to see a long, slow decline in the number of private-sector firms that support millions of jobs across the economy. In that context, rather than seeing a V-shaped downturn and rebound as some economists such as the OBR have predicted, we could instead see an L-shape recession dragged down by a net loss of companies over a long period.

Associated Themes
  • Business Growth
  • COVID-19
  • Productivity and performance
Research Report

Covid19: Critique and Proposals to Develop More Comprehensive and Inclusive Support for the SelfEmployed

The UK Chancellor Rishi Sunak has promised the self-employed they are ‘not forgotten’ and claimed that his headline programme – the Self-Employment Income Support Scheme (SEISS) – will protect 95% of those for whom self-employment is a main job. However, the policy excludes start-ups and, in an initial critique, we called for businesses without a 201819 Self-Assessment record (new businesses or those that did not become profitable until after April 6 2019) to have a chance to do their 2019-20 assessment early from April 6th 2020 for one month. This would then make them eligible for an SEISS payment in June 2020.
We also analysed Covid19 support for the self-employed in Germany and Denmark and found more comprehensive packages, supporting business costs and not just selfemployed income.

Following further discussion and analysis, this document outlines in detail the support for income losses and business losses or cash flow problems available to four categories of self-employed worker under UK Covid19 policy: the established self-employed for whom self-employment is a main job; the new(ish) self-employed for whom self-employment is a main job; the self-employed as a second job, and; the established self-employed who grew their businesses so self-employment became their main job in 2019-20. See Tables 1-4 below. We estimate that nearly I in 5 of the self-employed – over 750,000 people - are excluded from the SEISS and that many of the unprotected will have low or no social protection under Universal Credit and the Employment and Support Allowance. This means that some have no pay during periods of Covid19 sickness and self-isolation, a situation that could undermine the social distancing strategy. Home-based businesses without premises have no access to grant support with business losses and, we argue, are likely to be reluctant to apply for the Business Interruption Loan Scheme or, indeed, to be eligible for this fund.


Author

ERC,, MMU,

Associated Themes
  • Business Growth
  • COVID-19
Research Report

Northern Powerhouse Local Growth Dashboard

The UK Local Growth Dashboard has been developed by the Enterprise Research Centre (ERC) and builds on the LEP Growth Dashboard first launched in June 2014. Its purpose is to present a set of growth metrics for start-ups and existing firms across a range of sub-national geographies in the UK with a specific focus on each of the 38 English Local Enterprise Partnership (LEP) areas. Alongside these metrics it provides some other contextual data for each LEP including the changing sectoral composition of local economies over time.
This version of the Local Growth Dashboard was requested by the Greater Manchester Growth Company for the 11 Northern Powerhouse LEPs: Cheshire and Warrington, Cumbria, Greater Manchester, Humber, Lancashire, Leeds City Region, Liverpool City Region, North East, Sheffield City Region, Tees Valley and York, North Yorkshire and East Riding.
The Local Growth Dashboard can be used as a source of evidence to inform discussions on priorities in business support concerning small business growth and includes easily understood metrics which can be readily updated on an annual basis.
This report is designed to simply present the data for others to use and it is not the intention here to investigate the reasons for these variations as that can be found elsewhere in the research outputs of the ERC and the wider research and policy literature.

Author

ERC,

Associated Themes
  • Business Growth
  • Productivity and performance
Research Report

UK Local Growth Dashboard 2019

The UK Local Growth Dashboard has been developed by the Enterprise Research Centre (ERC) and builds on the LEP Growth Dashboard first launched in June 2014. Its purpose is to present a set of growth metrics for start-ups and existing firms across a range of sub-national geographies in the UK with a specific focus on each of the 38 English Local Enterprise Partnership (LEP) areas. Alongside these metrics it provides some other contextual data for each LEP including the changing sectoral composition of local economies over time.

The Local Growth Dashboard can be used as a source of evidence to inform discussions on priorities in business support concerning small business growth and includes easily understood metrics which can be readily updated on an annual basis. This report is designed to simply present the data for others to use and it is not the intention here to investigate the reasons for these variations as that can be found elsewhere in the research outputs of the ERC and the wider research and policy literature.

Download the Data file at : http://www.enterpriseresearch.ac.uk/wp-content/uploads/2019/11/Local-Growth-Dashboard-2019-Master-Datafile-September-4.xlsx





Author

ERC,

Associated Themes
  • Business Growth
Research Report

State of Small Business Britain 2019

The State of Small Business Britain report 2019.
The increasing levels of political uncertainty in the UK sets the context for this review of trends in the small business community in mid-2019.
We seek to provide an overview of business confidence and the extent to which that is reflected in the key datasets we have been monitoring for many years. We focus on the following:
• Business Confidence
• Job Creation and Destruction
• Entrepreneurship
• Firm Growth
Alongside this we will highlight some of the key messages coming out of our core research programme, which provide insights into current debates on high-growth, productivity and management practices.

Author

ERC,

Associated Themes
  • Business Growth
  • Productivity and performance
Insight

Job Creation and Destruction in the UK 1998-2018

Using an established international analytical framework for job creation and destruction we observe that just over a quarter of all jobs in the private sector were either destroyed or created over a typical 12 month period – a remarkable level of turbulence in the UK labour market which provides a more granular analysis of the recent so-called ‘employment miracle’. Despite the rise in employment since the Great Recession there has been a slight fall in the measure of business dynamism which is a cause for concern given its importance to the overall level of productivity in the economy.

Associated Themes
  • Business Growth
Policy Briefing

Fecundity, fertility, survival and growth: high-growth firms in the UK and their contribution to job creation, a demographic perspective.

High growth firms (HGFs) have attracted an increasing amount of attention in the last decade as economies begin to emerge from a period of deep recession and policymakers take a renewed interest in firms which generate jobs on a large scale However, despite the attention given to HGFs by policy-makers and researchers, surprisingly little seems to be known about the longer term performance of HGFs and, in particular, about their growth outside the period which led them to be classified as HGFs.
The principal contributions of this paper build on the distinction between high-growth episodes and high-growth firms. The ‘birth’ of an HGF is marked by its first high-growth episode (i.e., defined as a HGF for the first time according to the OECD definition, but the HGF may (indeed is quite likely to) record further high-growth episodes in subsequent years – that is, be defined for a second time as a HGF in a subsequent 3-year period.

Associated Themes
  • Business Growth
Research Paper

Fecundity, fertility, survival and growth: high-growth firms in the UK and their contribution to job creation, a demographic perspective. Research Paper No 74

High growth firms (HGFs) have attracted an increasing amount of attention in the last decade as economies begin to emerge from a period of deep recession and policymakers take a renewed interest in firms which generate jobs on a large scale However, despite the attention given to HGFs by policy-makers and researchers, surprisingly little seems to be known about the longer term performance of HGFs and, in particular, about their growth outside the period which led them to be classified as HGFs.
The principal contributions of this paper build on the distinction between high-growth episodes and high-growth firms. The ‘birth’ of an HGF is marked by its first high-growth episode (i.e., defined as a HGF for the first time according to the OECD definition, but the HGF may (indeed is quite likely to) record further high-growth episodes in subsequent years – that is, be defined for a second time as a HGF in a subsequent 3-year period.

Associated Themes
  • Business Growth
SOTA Review

Access to Venture Capital Amongst Female-led Firms. SOTA No 16

While the participation of women in entrepreneurship has increased in recent years, women’s access to venture capital (VC) has not moved at the same pace. The gender gap in VC funding persists, as is also the case in other equity financing markets. Recent studies using socio-psychological perspectives indicate that the gap is associated with gender biases, which affect whether and how women entrepreneurs seek funding and how decision-makers evaluate business opportunities. From the demand side, this relates to some women’s tolerance for risk and their perceptions about external equity capital, which can lead to lower aspirations to seek business growth and to apply for VC funds. From the supply perspective, gendered beliefs about what makes a successful business founder, and lack of female role models may impact negatively on the evaluation of businesses led by women. These barriers may require interventions that go beyond a focus on just improving women’s financial or technical skills.

Associated Themes
  • Finance
Research Report

Understanding business resilience among under-represented groups in London

Supported by the JPMorgan Chase Foundation this report highlights the preliminary findings from a new survey of business adversity and resilience in 600 small businesses located in six London boroughs, three low-income and three middle-income. The study aims to identify the characteristics and strategies that foster resilience survival and growth in SMEs, and to develop practical toolkits to support under-represented entrepreneurs in their efforts to develop more resilient businesses. Four key findings emerge:

• Male and female-led businesses were equally likely to have experienced an existential threat to the survival of their business in the past five years. However, male business owners judged the potential for future threats to be less significant than their female counterparts.
• Ethnic-led businesses were significantly more likely than non-ethnic led businesses to have experienced a threat to the survival of their business. This effect was more evident for younger ethnic businesses and those located in low-income boroughs.
• Ethnic-minority business owners also judged the potential for future threats to be greater than their non-ethnic counterparts. Key issues included increased competition from new and existing sources, cost rises, problems with premises and changes in regulation or legislation.
• Psychological measures of personal resilience on average vary little between male and female business leaders and those from ethnic and non-ethnic groups. There is more significant variation within each group.

Author

Wishart, Maria, Roper, Stephen, Hart, Mark

Associated Themes
  • Diversity
  • Entrepreneurship
Research Report

NI Local Growth Dashboard

The Northern Ireland Local Growth Dashboard has been developed by Queen's University and the Enterprise Research Centro ( ERC ) and provides comparative statistics to the Local Enterprise Partnership ( LEP). Growth Dashboard first launched in June 2014 and Its purpose is to present a set of growth metrics for start-ups and existing Local firms across a range of sub-national geographies in NI with a specific focus on each of the 11 Local Government District ( District Council) areas. Alongside these metrics it includes contextual data for each, including comparisons to the wider UK geographies.

Data Sheet available at : http://www.enterpriseresearch.ac.uk/wp-content/uploads/2018/11/NI-Dashboard-Statistics_final-for-upload.xlsx

Author

University, Queen's, ERC,

Associated Themes
  • Business Growth
Research Report

UK Local Growth Dashboard 2018

The UK Local Growth Dashboard has been developed by the Enterprise Research Centre (ERC) and builds on the LEP Growth Dashboard first launched in June 2014. Its purpose is to present a set of growth metrics for start-ups and existing firms across a range of sub-national geographies in the UK with a specific focus on each of the 38 English Local Enterprise Partnership (LEP) areas. Alongside these metrics it provides some other contextual data for each LEP including the changing sectoral composition of local economies over time.
2018 Data: http://www.enterpriseresearch.ac.uk/wp-content/uploads/2018/06/2018-dashboard-master.xlsx



Author

ERC,

Associated Themes
  • Business Growth
Research Report

State of Small Business Britain Report 2018

The report brings together a range of the latest data and insights on the growth and performance of UK SMEs. It sets out key SME trends based on a round-up of the latest research evidence including analysis of the Business Structures Database and the Longitudinal Small Business Survey. It also reports on the key findings from the ERC’s first Micro-business Britain survey, and from the 2018 UK Local Growth Dashboard – an annual publication which presents growth metrics for start-ups and existing firms across a range of sub-national geographies, including LEP areas.
Launched at the ERC’s Annual State of Small Business Britain Conference 2018.

Author

ERC,

Associated Themes
  • Business Growth
  • Management and Leadership
  • Productivity and performance
Research Paper

The UK’s high growth firms and their resilience over the Great Recession – Research Paper No 62

During the last decade High-Growth Firms (HGFs) – sometimes referred to as ’Scale-Ups’ – have increasingly become an established feature of the UK business policy landscape. Indeed, HGFs are mentioned in the government’s recently published policy document ”Building our Industrial Strategy”, and are now considered sufficiently important that the Minister for Small Business has taken on the role of ”Scale-Up Champion”.
Whilst we know something of the characteristics of these firms – about their age, size, sector and location – we know relatively little about the dynamics of the HGF population as it evolves over time. For the most part attention is focused simply on the annual count which, as we shall see, is not an entirely appropriate measure of HGF activity.

Associated Themes
  • Business Growth
Policy Briefing

The UK’s high growth firms and their resilience over the Great Recession

During the last decade High-Growth Firms (HGFs) – sometimes referred to as ’Scale-Ups’ – have increasingly become an established feature of the UK business policy landscape. Indeed, HGFs are mentioned in the government’s recently published policy document ”Building our Industrial Strategy”, and are now considered sufficiently important that the Minister for Small Business has taken on the role of ”Scale-Up Champion”.
Whilst we know something of the characteristics of these firms – about their age, size, sector and location – we know relatively little about the dynamics of the HGF population as it evolves over time. For the most part attention is focused simply on the annual count which, as we shall see, is not an entirely appropriate measure of HGF activity.

Associated Themes
  • Business Growth
Insight

High performing firms and job creation: a longitudinal analysis (1998-2013) ERC Insight Paper

The OECD High-Growth Firm (HGF) measure was a pragmatic solution to a practical problem. It was designed to assist in identifying the small group of firms which contributed disproportionately to job creation. This statistic could be used to inform national policy and to make comparisons across countries, since it could be readily replicated using business register data. The decade since the measure was first published has seen increasing dissatisfaction amongst the academics and policymakers seeking to make use of it. There are two important criticisms. First, it focuses attention on relatively short ‘bursts’ of growth rendering invisible the reality of growth for the majority of businesses, and second, it does not in fact capture some important members of its target group the ‘relatively small proportion of firms that contribute disproportionately to job creation’.
We present a new analysis of job creation in the UK, using data on a cohort of start-ups born in 1998 to identify three different groups of high performing firms. Of these three groups we find that HGFs as defined by the OCED do not create the most jobs, in fact they grow more slowly and have a lower survival rate than the comparators. Notably, though, most of the observed growth in all three groups takes place within the first five years after start-up.

Associated Themes
  • Business Growth
Research Report

UK Local Growth Dashboard 2017

The UK Local Growth Dashboard has been developed by the Enterprise Research Centre (ERC) and builds on the LEP Growth Dashboard first launched in June 2014.  Its purpose is to present a set of growth metrics for start-ups and existing firms across a range of sub-national geographies in the UK (NUTS 2) with a specific focus on each of the 39 English Local Enterprise Partnership (LEP) areas.  Alongside these metrics it provides some other contextual data for each LEP including the changing sectoral composition of local economies over time.
Since October 2016 there are now 38 LEPs in England as Northamptonshire and South East Midlands LEPs merged. This edition of the Local Growth Dashboard contains data for the original 39 LEPs. 
Data for the merged LEP will be released via the ERC website by the end of April 2017

Download the UK Local Growth Dashboard 2016 data here : https://www.enterpriseresearch.ac.uk/wp-content/uploads/2017/05/2017-Dashboard-Update-Data-final.xlsx

Author

ERC,

Associated Themes
  • Business Growth
Research Paper

Ambitious Entrepreneurship and Migration A Multi-Level Study across the Local Authorities in England and Wales. Research Paper No 47

We consider why both immigrants and regional migrants may embark on different types of entrepreneurial projects: high versus low aspiration; opportunity driven versus necessity driven. Next, using Global Entrepreneurship Monitor data, we construct a multiple-years sample of UK working age population with wide spatial coverage, and apply a multi-level multinomial logit model to test and compare propensities of migrants to enter into different forms of entrepreneurship. We find that – compared with those who are not spatially mobile – both internal (regional) migrants and immigrants are more likely to start new ventures characterised by high growth aspirations. Immigrants are more likely than non-migrants to engage in both opportunity-driven and high-aspiration entrepreneurship, but, unlike regional migrants, not in necessity-driven and low-aspiration entry.

Associated Themes
  • Diversity
  • Entrepreneurship
Research Report

Human resource practices and firm growth: an exploratory analysis from the matched employer skills survey and the ONS business structure database A statistical report produced by the Enterprise Research Centre for UKCES

This project aimed to explore the role of Human Resource (HR) practices in driving firm growth. Central to the project is the use of the 2011 Employer Skills Survey (ESS) which provides detailed information on the HR practices adopted in individual workplaces. These observations were matched to establishment data derived from the longitudinal Business Structure Database (BSD) which provides time-series information on employment and turnover for all UK firms and establishments registered for VAT and/or PAYE.

Author

Bonner, Karen, Roper, Stephen, Hart, Mark

Associated Themes
  • Management and Leadership
  • Productivity and performance
Insight

Spatial Incidence of High Growth Firms.

High-Growth Firms (HGFs) are a very small proportion of the UK business population yet they have a disproportionate impact on job creation.
We present data at local economic area level over time to show that there is a very distinct geography emerging for the incidence rate of HGFs since the recession.

Associated Themes
  • Business Growth
Research Report

Unlocking UK Productivity

UK productivity to be boosted by increasing exporting and innovation among small and medium-sized firms.

Britain’s productivity is falling behind other economies because it is slower to turn ambitious smaller firms into exporters of innovative new products and services, according to a new report.

With more support, it is estimated that up to 110,000 small to medium-sized enterprises (SMEs) could become regular exporters, adding an extra £1.15 billion in Gross Value Added (GVA) to the economy in the first year alone in the form of new and higher value jobs.

The report published today, “Unlocking UK Productivity” has been co-authored by Goldman Sachs, the Enterprise Research Centre (ERC) and the British Business Bank (BBB).

Its findings draw heavily on the core research themes of ERC for the past three years.

Author

ERC,, Sachs, Goldman, Bank, British Business

Associated Themes
  • Productivity and performance
Insight

Contribution to Job Creation by High Growth SMEs.

High-Growth Firms (HGFs) are a very small proportion of UK businesses population yet they have a disproportionate impact on job creation. We re-visit the issue to confirm that typically, over a three year period, high growth SMEs represent less than 1% of established businesses, but generate 20% of all job growth amongst established businesses which grow

Associated Themes
  • Business Growth
Research Report

ERC Annual Reports

The Enterprise Research Centre (ERC) was launched in January 2013 to deepen understanding in the UK of the factors affecting small and medium sized business
investment, performance and growth. The Centre is a collaborative venture between five University Business Schools: Warwick,Aston, Imperial, Strathclyde and Birmingham. ERC aims to build long term research capability
which will act as a focal point for world-class research on SMEs in the UK and internationally. Our work informs stronger SME strategy and policy development in the UK by developing and
drawing on the evidence base and providing commentary, evaluation and challenge to policy makers and those serving small and medium sized firms.
The ERC’s research programme is distinctive in that it aims to place SMEs in their operating context recognising that:
 growth is strongly influenced, both positively and negatively, by the business eco-system;
 growth depends significantly on the role of SME leadership and capability;
 different SMEs have very different ways of growing – organically or by acquisition – and the barriers and enablers of each type of growth, and in each type of firm, may be very different.

Download the 2013/2014 report here : https://www.enterpriseresearch.ac.uk/wp-content/uploads/2015/03/ERC-ANNUAL-REPORT-2013-14.pdf
Download the 214/2015 report here : https://www.enterpriseresearch.ac.uk/wp-content/uploads/2015/10/ERC-ANNUAL-REPORT-2014-15.pdf

Author

ERC,

Associated Themes
  • Business Growth
Research Report

UK Growth Dasboard 2015

The UK Growth Dashboard 2015, a new study by the Enterprise Research Centre (ERC) in partnership with Business Growth Service looks at a range of indicators to  shed new light on the health of small businesses and entrepreneurship across the whole of the UK. the report shows that, overall, small businesses have finally regained the ground lost since the Great Recession- with jobs, start up and growth rates returning to pre-crisis levels in 2014 for the first timer since 2008.It paints a much more complex picture of  growth in the ‘grassroots economy’ than the usual caricature of a booming London and trailing provinces – with growth hotspots being found in every nation and region of the UK.

Download the Dashboard data 2015 here: https://www.enterpriseresearch.ac.uk/wp-content/uploads/2015/03/Data-for-Dashboard_ERC.xlsx

Author

ERC,

Associated Themes
  • Business Growth
Research Paper

Feasibility Study – Exploring the Long-Term Impact of Business Support Services. Research Paper No 29

This report is a feasibility study examining whether it is possible to observe a longer term impact of business improvement schemes in general using the old Business Link (BL) offer in England in 2003 as an example. The report covers the methodological issues of assessing the economic impact of business support interventions over an extended time period, although the findings will be of interest to policy makers. Building on the published evaluation of BL in 2006 this new analysis uses 7 additional years of employment and turnover data from the ONS Business Structure Database (BSD) to demonstrate the value of longitudinal evaluation time frames.

Associated Themes
  • Productivity and performance
Research Report

A Nation of Angels. Assessing the impact of angel investment across the UK

The Enterprise Research Centre were commisioned by the UKBAA  in association with the Centre for Entrepreneurs (CfE) and with the support of the BVCA, Deloitte, Barclays and the ESRC, to produce a Research Study Report in order to  better understand the impact of angel investing on the growth of their investee businesses and the influence of these new developments in the marketplace and to identify what action UKBAA and other key players can take to further support the growth and effectiveness of angel investing.
The results of this study demonstrate the important role that angel investing is playing in the economy in bringing risk capital and business experience and skills to support the growth of small businesses, but also through creating social impact through their investments. Ultimately it is hoped this will reinforce the need for Governments , key stake holders and opinion formers to give continuing support to this “Nation of Angels” to enable the angel community to continue to grow and fulfil their important contribution to the UK economy.
Conducted by Prof Mark Hart, Deputy Director , ERC, Aston Business School , Prof Mike Wright, ERC, Imperial Business School and Dr Kun Fu, ERC , Imperial Business School  this report presents the results of the largest study of the investment behaviour and impact of business angels in the UK to date. The study comprised responses from 403 individual angels who responded to the online ‘Nation of Angels’ survey detailed follow-up telephone interviews with 42 individual angels who shared more details of their investment behaviour, and an online survey of 28 angel syndicate and network leads across the UK  representing ~8,000 angels.

Author

ERC,

Associated Themes
  • Finance
Research Report

LEP Growth Dashboard

New metrics on growth of established businesses and start-ups for the English LEPs developed by ERC researchers in partnership with GrowthAccelerator.
A complex LEP geography emerges which provides a challenge to some of the preconceptions held about the ‘hotspots’ of growth across England while confirming others.  The Local Enterprise Partnership (LEP) Growth Dashboard has been developed by the Centre in partnership with GrowthAccelerator. Its purpose is to provide each LEP with a set of simple metrics on the growth of existing firms and start-ups in their LEP area and set these alongside the key barriers to growth flagged by businesses who are seeking to grow and have become a participant in GrowthAccelerator

Start-ups and Growth infographic : https://www.enterpriseresearch.ac.uk/wp-content/uploads/2014/06/start-ups-which-survive-and-grow-to-1m.pdf
LEP Growth Metric Tables infographic : https://www.enterpriseresearch.ac.uk/wp-content/uploads/2014/06/ERC-table.pdf
Survival Rates infographic : https://www.enterpriseresearch.ac.uk/wp-content/uploads/2014/06/Proportion-of-2009-start-ups-that-survive-to-2012.pdf

Author

ERC,, Accelerator, Growth

Associated Themes
  • Business Growth
Insight

UK’s Hidden Growth Champions

The Enterprise Research Centre (ERC) has developed an alternative approach to identifying groups of fast-growing firms which contribute disproportionately to job creation and output. This will have significant implications for policy discussions on the relative importance of SMEs and which types of firms drive growth in the economy.

Associated Themes
  • Business Growth
Insight

Moving on from the ‘Vital 6%’

High-Growth Firms (HGFs) represent only a small minority - the ‘Vital 6%’ - of the UK business population yet they have a disproportionate impact on job creation and innovation. This paper confirms the headline conclusion for job creation: that is, a small number of job creating firms (mostly small firms) are responsible for a significant amount of net job creation in the UK. It also suggests the existence of a smaller group of 'extraordinarily prolific job creating firms' who were micro firms in 1998 and now employ almost 100,000 people.

Associated Themes
  • Business Growth
Research Paper

Localisation of Industrial Activity across England’s LEPs: 2008 & 2012 .Research Paper No 15.

The Department for Business, Innovation & Skills commissioned the ERC to undertake an analysis of industrial clusters in the UK and to use the new Local Enterprise Partnerships (LEPs) as the sub-national spatial frame in England. The analysis is designed as an information source for the LEPs as they prepare their new strategic economic plans.

Associated Themes
  • Business Growth
White Paper

Supporting Sustained Growth Among SMEs. White Paper No 7.

Among SMEs high growth is often episodic and not sustained. This paper reviews a number of international support measures designed to give SMEs the capabilities and resources to sustain fast growth.

Associated Themes
  • Business Growth
Research Paper

Burden or Benefit? Regulation as a dynamic influence on SME performance. Research Paper No 7.

This paper contributes to contemporary debates concerning the impact of regulation on small business performance in the UK.

Associated Themes
  • Business Growth
  • Productivity and performance
White Paper

Firm Dynamics and Job Creation in the UK. White Paper No 6.

A consistent theme in the discussion of attempts to stimulate economic recovery in the UK is a recognition of the need to unlock the growth potential of the private sector. This paper explores the simple question – “What types of firms create the most jobs in the UK economy?”

Associated Themes
  • Business Growth