New insights from the ScaleUp Institute reveal that the number of fast-growing ambitious businesses is increasing across Oxfordshire.
According to new research based on the latest 2017 ONS data, there are now 480 companies in the region that meet the definition of scaleup. These businesses have increased turnover or employment by more than 20% annually, are employing a total of 49,000 staff and have a turnover worth £5.2 billion.
Across the UK there are now over 36,000 scaleups, an increase of 3.7% from 2016.
Vale of White Horse business success
Located in Abingdon, Gigaclear is dedicated to bringing outstanding broadband to rural communities.
ScaleUp Institute Chief Executive Irene Graham said:
“Scaleups are the engine drivers of local economies…their aspirations remain high. According to our recent ScaleUp survey eight out of ten expect to scale again in 2019, generating £1.5 billion more in turnover and creating an extra 7,000 jobs.”