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Report: Fast growth companies are the true powerhouses of the U.S. economy

A new study examines the economic multiplier effect of so-called “scale ups,” and the challenges these companies face.
During the last economic downturn nearly a third of net new jobs were created by just 2% of companies—enterprises with $10 million to $1 billion in revenue, growing an annual rate of 20% or more, according to a new report by Wakefield Research. The study forecasts that this same cohort of companies will likely have an outsized impact on job creation during the current economic slump. These firms “reacted quickly to the COVID-19 outbreak with policies aimed at securing revenue, with most maintaining positive growth outlooks into 2021,” the study says.Read Full Story

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