In 2016 compared with 2015, the number of high-growth enterprises increased by 14 percent in the European Union (EU). According to Eurostat, between 2015 and 2016, the number of high-growth enterprises increased in 23 EU Member States.
The increase was highest in Cyprus (104 percent), however, the absolute number of high-growth enterprises in Cyprus is relatively low (48 in 2015 and 98 in 2016).
The increase exceeded 25 percent also in Romania (34 percent), Slovenia (29 percent), Spain (27 percent), Italy and France (both 26 percent).
A decrease in the number of high-growth enterprises was recorded in four EU Member States: Latvia (-38 percent), Estonia (-30 percent), Malta (-18 percent) and Finland (-4 percent). The largest absolute number of high-growth enterprises – about 40 000 – are operating in Germany, followed by the United Kingdom (26 000), Spain and France (17 000 each) and Italy (15 000).
The number of high-growth enterprises increased in all economic sectors. The statistical office of the European Union shows that the highest increase was in “accommodation and food service activities” (21 percent), followed by “information and communication” and “transportation and storage” sectors (15 percent). The lowest increase was in “Electricity, gas, steam and air conditioning supply” (3 percent).
High-growth enterprises are defined as enterprises with an average annualised growth in the number of employees of more than 10 percent per year over a three-year period and at least 10 employees when the growth began. High-growth enterprises play an important role in contributing to economic growth and job creation.