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Almost 158,000 companies were recognised as high-growth enterprises, in 2015, in the European Union, according to data released on Thursday by the European Statistical Office (Eurostat). They account for one tenth (9.9pct) of all active enterprises with at least ten employees in the business economy in the European Union (EU), and provide work for over 13.5 million employees.
In 2015, EU Member States showed considerable variation in the distribution of high-growth enterprises. The highest proportion of high-growth enterprises among all active enterprises with at least 10 employees was recorded in Ireland (14.9pct), Malta (13.7pct in 2014), Hungary (12.5pct), Slovakia and Latvia (both 12.2pct), as well as Sweden (12.1pct). At the opposite end of the scale, the lowest shares were registered in Cyprus (2.2pct in 2014) and Romania (2.3pct), followed by Greece (6.0pct), Austria (6.5pct), Italy (7.6pct), Estonia (7.7pct) and Belgium (8.1pct).
Also, in 2015, about 1 in 5 employees was employed in high-growth enterprises in Ireland (21.7pct), Hungary (20.7pct) and Portugal (19.7pct). High-growth enterprises had also a significant impact on employment in the United Kingdom (19.0pct), Bulgaria (18.6pct), Malta (17.5pct in 2014), Latvia and the Netherlands (both 17.4pct). In contrast, the lowest shares were registered in Cyprus (3.6pct in 2014) and Romania (5.9pct), followed at a distance by Austria (7.8pct), Finland and France (both 9.5pct).
High-growth companies were identified using the criteria of average annualised growth in employee numbers of more than 10pct per year over a three-year period and at least 10 employees when this growth began. High-growth enterprises play an important role in contributing to economic growth and job creation. Looking at a breakdown by economic activity, high-growth enterprises in the EU were more predominant in the service sectors than in the rest of the business economy in 2015. The highest proportion of high-growth enterprises was in the "Information and communication" sector (15.3pct of active enterprises in this sector), followed by "Administrative and support service activities" (14.0pct), "Transportation and storage" (12.0pct) and "Professional, scientific and technical activities" (11.3pct).
