Graham points out that even during the pandemic and the economic downturn of 2020, scale-ups have continued to invest in innovation, new product development and job creation.
The ScaleUp Institute’s 2020 ScaleUp Index found that scale-ups are significantly more productive than their peers, with the average annual turnover per employee standing at almost £338,000. They are also more likely to be involved in international trade, and are keen to broaden their horizons despite issues such as Brexit.
Meanwhile, they have a greater tendency to innovate, with around 75% of scale-ups saying they have improved or developed a product, service or process within the past three years. And the employment opportunities they create are typically of a higher quality – offering greater levels of job satisfaction, for example.