CBI Economics investigates the contributions these companies make to our economy and the size of the prize from fostering further high-value growth.
Key takeaways
- UK decacorns, unicorns and soonicorns already contribute 2.6% to UK GVA and support 2.3% of UK jobs, despite only accounting for a tiny fraction of UK employers.
- Growing the number of decacorns from nine to 100 could see an extra £177bn for the UK economy.
The CBI is striving to create a supportive environment for high-growth, innovative businesses. To better understand the UK opportunities for business growth and innovation, we set out to investigate the success of the UK’s current population of decacorns (companies valued at over $10bn) – a small, yet highly productive, fast-growing and innovative subset of UK businesses.
We also wanted to understand what the UK could stand to gain from fostering similar growth in other businesses with similar potential, such as unicorns (value over $1bn) and soonicorns (value over $500m).
This CBI Economics analysis shares some insight into these companies and showcases the economic and fiscal benefits of growing the UK’s population of decacorns.
What are decacorns?
For a company to be defined as a UK decacorn we set out four criteria the company must meet.
- The company must be headquarted in the UK
- The company was founded after 1990
- The company must still be active today and have
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