4.11 Fast growing firms

Entrepreneurial activity is not just about business creation but also about business growth.� A relatively small number of fast growing enterprises or �gazelles� (companies with compound growth rates of at least 20 per cent per year for four years) tend to be the main source of innovation and job creation.�

How does the UK perform?

According to a study by Merrill Lynch in the period 1995-1999 the UK was second only to the US amongst its major competitors in terms of the percentage of listed companies which had doubled sales growth (Chart 4.11).�