3 Reasons “Scaleup” Businesses Are Just As Important As Startups

Story excerpt provided by Huffington Post.

Written by Cathy Belk, President, JumpStart Inc.

At JumpStart, we’ve spent more than ten years focused on accelerating the growth of startup companies in Northeast Ohio. Our goal has been to increase entrepreneurs’ odds of success, so they can transform our region’s economy and make it a nationally significant center of innovation and entrepreneurship.

The results speak to the impact of the work.

Recently though, we’ve begun expanding our focus to include working with existing small businesses that have high growth potential. Typically, these companies have 4-99 employees, a founder with a commitment to growth and existing revenues of $2 million or more.

We call these types of small businesses “scaleups,” and unlike startups–which have hundreds of incubators, accelerators and other support organizations dedicated to helping them succeed–scaleups haven’t received as much specialized attention from the economic development world, at least in the U.S.

Click here to read the complete article.

Originally published January 19, 2016.

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