Your company isn’t focused on social media or biotech, and it’s not based anywhere near Silicon Valley or MIT. Does this mean you’re out of the fast-growth club?
Far from it. Despite widespread belief that high-growth companies cluster in certain industries and geographies, research by Gary Kunkle — an expert in corporate expansion — proves otherwise. Although companies that have sustained growth over the past few years account for a mere 1 percent of all businesses (as measured by increased hiring), they are evenly distributed across all states and industries.
What sets growers apart, Kunkle says, is how they operate and the decisions they make.
These two factors are 10 times more likely to influence growth than the industry the company is in, and 50 times more likely than its location.