EVERYTHING YOU NEED TO KNOW ABOUT SCALE-UPS
Our upcoming event “Scaling Up to Growth” Conference is concerning start-up businesses that would like to scale-up their company and are looking for the right support, investment & guidance to grow their business. This article directs you through the key questions you might have before attending the Conference. TICKETS: http://bit.ly/2qHz6zC
What exactly are scale-up companies?
A scale-up company is a business that would like to grow and expand in terms of market access, added value, revenues or number of employees.
According to 2014 Coutu Report, a scale-up is a company with an average annual growth in employees or turnover that is greater than 20 percent per annum over a three-year period, with a minimum of 10 employees at the beginning of the observation period.
Investors love to invest money in scalable start-ups. A business with potential to multiply revenues, achieve rapid growth and increase value in sustained periods is considered a scalable business.
Why should you scale-up?
The scale-up institute believes by 2034 scale-up companies have the potential to add £225 billion to UK’s GDP, deliver up to 150,000 added jobs across all regions in the UK and improve productivity in every sector of the economy.
Over the last decade, the UK experienced the Start-Up Revolution. The entrepreneurial sector has developed massively, start-up rates have improved drastically and capital at early stage is more easily available. All of these have collectively made the UK globally recognised for entrepreneurial activity.
However, there is a concern about the growth of these new companies. According to the 2014 Coutu Scale-up Report, there is a small number of high-growth companies in the UK.
The Scale-up Revolution will be the new act. Start-ups, small and medium enterprises, and entrepreneurship play a huge part in the UK’s economy. To achieve success, a move of attention from how to start new companies to how to grow them over time is needed.
Are there any challenges?
Less than 3 percent of start-ups endure for a decade and experience a single year of high growth. According to the Economist, several SMEs are looking to grow, but cannot due to lack of resources. Some issues are the absence of managerial skills, the unwillingness of banks while lending start-up companies and the incapability to attract skilled workers.
Sherry Coutu believes, regardless of the business proposition being great, if there is no long-term sustainable strategy for success, emphasis on innovation or the correct support and guidance, failures are possible. However, we must learn from our failures in order to be sustainable leaders.
Importance of Scaling Up
UPS’s Marketing Director for small businesses, Jeremy Melis, explains the significance of growth. Jeremy believes your goal does not have to be the speed of domestic or international growth. Rather, it should be the achievement of what you define as success and the position of your business in the best place for that to happen.
It can differ from company to company. For your organisation, it might mean revenue growth or geographic expansion, while for another organisation, it could be increasing loyal customers or proposing better quality of living for yourself and your employees.
Funding for Scale-ups
There are numerous funders out there, but are all of them the correct fit?
The Business Funding Scale-up Conference allows you to meet Seedrs, Market Invoice, Innovate UK, A City Law Firm, Silicon Valley Bank, CrowdCube, Rockpool, ScaleUp Group, Accenture, Angel CoFund, Mind The Bridge, Beringea, PwC, Calculus Capital, Syndicate Rooms, ClearlySo, Enterprise Europe Network, Octopus Ventures, London Stock Exchange, Elite Group, Department of Int. Trade that will specifically focus on scale-ups and high growth SMEs.
Want to learn more about your business’s growth opportunities?
Join us http://bit.ly/2qHz6zC