Business Start-ups

Trade and Industry written question – answered on 4th February 2004.

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Photo of Stephen O'Brien Stephen O'Brien Shadow Secretary of State for Business, Innovation and Skills, Shadow Secretary of State for Industry

To ask the Secretary of State for Trade and Industry what estimate she has made of the change in the number of successful high growth business start-ups in each year since 1997.

Photo of Nigel Griffiths Nigel Griffiths Parliamentary Under-Secretary, Department of Trade and Industry

The estimated number was as follows:

Number
1997 12,200
1998 12,200
1999 (provisional) 12,900

These estimates are based on the following definition of HGSU:

High growth firms are defined as those with 10 or more employees and/or £1 million or more turnover by the further year of trading. There is an inherent four-year lag in the measurement of this target. Further information on progress can be found in the 2003 DTI Autumn Performance Report.

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