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High Impact Firms: Gazelles Revisited.

PB2008109311

Publication Date	2008
Personal Author	Acs, Z.; Parsons, W.; Tracy, S.
Page Count	94
Abstract	This study revisits and expands upon some of the conclusions on rapidly growing firms made by the small business research pioneer, David Birch, in the 1980's. Birch found that rapidly growing firms, which he termed gazelles, are responsible for most employment growth. While Birch's definition of gazelles was based on their revenue growth, this study examines firms with significant revenue growth and expanding employment. These are termed high-impact firms to distinguish them from gazelles. The research offers summary statistics helping to define the scope and characteristics of high-impact firms. The report sheds light on several previously unanswered questions, including: What are high-impact firms before they become high-impact firms, and what happens after their high-impact phase. The overall findings of the study are that high-impact firms are relatively old, rare and contribute to the majority of overall economic growth. On average, they are 25 years old, they represent between 2 and 3 percent of all firms, and they account for almost all of the private sector employment and revenue growth in the economy.
Keywords	Small businesses Employment growth Startups impact Methodologies Comparisons Growth periods Distributions Counties High impact firms Gazelles Metropolitan statistical areas New business formations
Source Agency	US Small Business Administration
Corporate Authors	Corporate Research Board, LLC, Washington, DC.; Small Business Administration, Washington, DC. Office of Advocacy.
Supplemental Notes	Sponsored by Small Business Administration, Washington, DC. Office of Advocacy.
Document Type	Technical Report
NTIS Issue Number	200823
Contract Number	SBAHQ-06-Q-0014

High Impact Firms: Gazelles Revisited.

High Impact Firms: Gazelles Revisited.
PB2008109311

Publication Date	2008
Personal Author	Acs, Z.; Parsons, W.; Tracy, S.
Page Count	94
Abstract	This study revisits and expands upon some of the conclusions on rapidly growing firms made by the small business research pioneer, David Birch, in the 1980's. Birch found that rapidly growing firms, which he termed gazelles, are responsible for most employment growth. While Birch's definition of gazelles was based on their revenue growth, this study examines firms with significant revenue growth and expanding employment. These are termed high-impact firms to distinguish them from gazelles. The research offers summary statistics helping to define the scope and characteristics of high-impact firms. The report sheds light on several previously unanswered questions, including: What are high-impact firms before they become high-impact firms, and what happens after their high-impact phase. The overall findings of the study are that high-impact firms are relatively old, rare and contribute to the majority of overall economic growth. On average, they are 25 years old, they represent between 2 and 3 percent of all firms, and they account for almost all of the private sector employment and revenue growth in the economy.
Keywords	Small businesses Employment growth Startups impact Methodologies Comparisons Growth periods Distributions Counties High impact firms Gazelles Metropolitan statistical areas New business formations
Source Agency	US Small Business Administration
Corporate Authors	Corporate Research Board, LLC, Washington, DC.; Small Business Administration, Washington, DC. Office of Advocacy.
Supplemental Notes	Sponsored by Small Business Administration, Washington, DC. Office of Advocacy.
Document Type	Technical Report
NTIS Issue Number	200823
Contract Number	SBAHQ-06-Q-0014