Research Paper

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

ERC Research Paper No 74

Associated Themes
  • Business Growth

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.