Life in the fast lane
A roadmap for scaling up your medium sized business
Success stories of medium sized business scaling-up are found across the country and in a wide range of industries. While London leads the way with over 13% of medium sized business scaling-up  , crucially 70% mid-market scale-ups are located outside of the capital  . This underlines the ability for scale-up companies to stimulate growth across the country and support a balanced recovery.
"Setting up Synapse in the Innovation Birmingham Campus was a great decision. We have the space to expand, proximity to big potential customers and access to top talent. Don't believe for a second that you have to be in London to scale-up."
Brian Donnelly, CEO and Co-Founder, Synapse
From tech companies in Shoreditch and Cambridge, to manufacturers in the Midlands and the gaming industry in Dundee, scale-ups are driving economic growth across the country.
MSBs scaled-up in the manufacturing sector
MSBs scaled-up in the construction sector
MSBs scaled-up in the business services sector
MSBs scaled-up in the financial services sector
MSBs scaled-up in the wholesale and retail sector
Mid-market firms across all sectors have the ability to scale-up. There is sometimes the tendency to associate scaling-up with only tech sector firms, but the evidence is clear that MSBs across industries can grow quickly.
Businesses in the service sector are more likely to scale-up by creating new jobs, while businesses that operate in the manufacturing industry are more likely to scale-up by becoming more productive and rapidly increasing their turnover.
Scaling-up is not restricted by when the business was set up. While younger medium sized businesses are more likely to grow quickly, a significant proportion of businesses incorporated in the 20th century are reaping the benefits of scaling-up. One of the core reasons why businesses from all demographics can scale is because of the diversity of routes available. Some companies are growing their workforce (“expanding scale-ups”), others increase their turnover (“productive scale-ups”) while some business are increasing both sales and employment (“balanced scale-ups”).
Never too old! 11% of MSBs incorporated between 1990-94 are scale-ups
From the many stories that fast growth leaders shared, the overwhelming common strand that united them was an ambitious mindset. Scaling-up is fundamentally a way of thinking. MSBs who are just starting out on the scale-up journey to those that have successfully navigated fast growth commonly cite their high aspirations, their clear sense of purpose and concrete sales targets as important.
The evidence is clear - age, size and sector are not barriers to fast growth. What is required is the ambition and the ability to follow through on the action plan to scale-up.