Businesses are targeting growth for the year ahead. It’s not just start-ups that can experience big growth, and a new survey by GrowthAccelerator has shown that growth is set to come from companies whoa re at least five years old. High growth could be achieved by your business no matter what the size.
An analysis of companies who are expecting to achieve high growth shows that 30% are aged 5 to 10 years old. What’s more, a further 29% are aged over 10 years, while some have been running for more than a century. Clearly, it’s not just about how long you’ve been established, it’s all about how you take advantage of the different opportunities you make for yourself.
Simon Littlewood, Director at Growth Accelerator, commented: “High growth is often perceived to be the exclusive domain of start ups or young enterprises which are new and nimble enough to grow quickly. This research shows that growth can come at any stage in a business’ lifetime. Many of our most prosperous, ambitious organisations are those which are setting and achieving new goals whether in their 5th, 50th or 100th year of trading. With the right support and guidance, the growth opportunity exists no matter what the business age.”
High growth can come about in any part of a business’s life cycle, and it’s not just limited to early on. While shifts in the wider economy are a big part of growth, it can come down to business leadership and funding opportunities. If that’s the case, then using alternative finance alongside your business needs could do wonders for your growth forecasts.