Only 3% Grow to 100 Employees
A study of over 800 business owners, carried out by research company YouGov, aimed to examine and understand why only three per cent of UK businesses ever grow to more than 100 employees.
The project concluded that the growth of a company was considerably harder to achieve than starting a business, as stated by 41 per cent of business owners.
The greatest challenges to business growth were identified as lack of money for investment, excessive legislation and lack of time to dedicate to growth.
Focusing on the tactics that SMEs employ in developing strategies for growth, the respondents cited trusting their instincts, seizing every opportunity and determination to see initiatives through despite repeated trials, as most helpful in growing their business.
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Entrepreneur | admin | 10 February 2007 |
