Scale Up Businesses

There are two categories for Scale Up businesses as defined by The Department for Business, Energy & Industrial Strategy:

Definition 1

  • Minimum of 10 employees at the start of the engagement.
  • Achieved minimum £500k turnover in the last year (operating for at least 3 years).
  • Potential / aspiration to grow turnover and/or profit by a minimum of 20% (pa) over a 3 year period.

Definition 2

  • Minimum of 5 employees at the start of the engagement.
  • Achieved minimum £250k turnover in the last year.
  • Potential / aspiration to grow turnover and/or profit by a minimum of 50% over a 3 year period.

Growth Hubs have a role to play in identifying and targeting scale up businesses that;

  • have the potential to scale up with support;
  • are already scaling up;
  • have experienced a scale up phase and are looking to consolidate; or
  • are entering a new growth period, in the broadest possible context.

Businesses that are identified as Scale Up are eligible for up 12 hours of free business advice from a Scale Up Advisor.

A BEST Growth Hub Scale-Up Advisor will work with ambitious Scale-Up businesses to help maximise their growth potential and scale-up by;

  • inspiring, motivating and encouraging;
  • linking those businesses to the right services to make that scale up process successful and with sustained impact;
  • helping identify growth opportunities and constraints;
  • facilitating the mapping of a 3 year strategic journey for the business and
  • assisting with the development of a 12 month Action Plan.

If you believe your business to be eligible or would like more information, please contact us on: info@BESTGrowthHub.org.uk