ScaleUp Challenge Report
The research comes as BizSmart® releases its annual ‘Scale-up Challenge’ report, which provides an in-depth analysis into common growth challenges, together with insight into why a massive 96% of business owners fail to reach seven-figures.

Kevin Brent, founder and managing director of BizSmart®, said: “Out of the 6 million SMEs in the UK, 5.7 million are defined as micro businesses, which means they employ 0 – 9 people. 96% of all businesses fall into this category and they account for 33% of UK employment but only21% of the entire turnover. In contrast - and according to the ScaleUp Institute – although there are less than 7,500 ‘scaleups’ in the UK, they contribute 50% of the SME economy.

ScaleUp Challenge
The Challenges of 7-Figure Business Success
In early 2021, BizSmart® surveyed over 100 business owners about their business, its performance in recent years, the common challenges they experience and their plans for growth. Our findings are both extensive and incredibly surprising.
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“So why do so few businesses become scaleups, which is defined by the OECD as having at least 10 employees and showing at least 20% growth annually for the last 3 years? Our research suggests that it may have something to do with only 7% of business owners having created a truly scalable business model with a demonstrable competitive advantage, low reliance on the owner, strong recurring revenue streams and the ability to take on a rapid increase in the number of customers -

“Having worked with and supported hundreds of business owners in their own scaleup journeys over the last decade, it’s also clear that an individual must first have the desire and confidence to grow the business, before taking the time to understand what it really takes to scale growth – which is where support providers, like BizSmart® come into play.

“By releasing our latest Scale-up Challenge report, we hope it not only resonates with business owners but also inspires them to analyse their current business processes and create positive and lasting change.”

Founded in 2012, BizSmart® has established a leading reputation as a business support provider of choice. With a clear mission to help as many business owners on their scaleup journey as possible, the firm has also launched its own Franchise model, which enables Franchisees to deliver its proven support programs to business owners UK wide.
ScaleUp Challenge Webinar
Go through the main points of the Report with Kevin