Previous ERC research has found that small proportions of UK firms generate revenue growth faster than jobs growth, enhance productive efficiency and demonstrate greater resilience. This follow-up project explores in greater detail the characteristics of these ‘Growth Heroes’ and examines their wider impact in the local economy.

Micro-econometric analysis is based on linked data on the ERC’s ‘Millennial 2000’ firms with the ONS Business Structure Database, as well as regional data to help determine their contribution to the local economy.

The project will provide a better understanding of the channels through which ‘Growth Heroes’ impact locally (e.g. through local demonstration and exemplar effects, as well as potential competition and crowding out) and what types of ‘Growth Heroes’ (e.g., knowledge-based fast growing firms) generate positive effects on a region with particular characteristics (e.g., entrepreneurial regions; agglomeration regions etc.).