Design for Growth Survey

Identifying and supporting businesses which have the potential to become world class is a key component in the regeneration of the Welsh economy. The difficulty lies in determining which of these companies are most likely to maximise the benefits of public support interventions.

Frequently turnover and employment are the only indicators used to determine a company’s growth orientation. However, whilst this is useful it does not provide a complete picture of a company’s potential to grow. This depends on a range of other factors including the attitude of the company owners, their willingness to invest in finance, skills and training, and their ability to innovate.

To maximise the success of EDC’s activities it was imperative that companies most likely to reap the rewards of such an initiative were determined at the outset. EDC commissioned the Leadership, Enterprise and Economic Development (LEED) unit at Cardiff Business School to carry out a unique Design for Growth survey which provided a solid foundation for identifying successful firms.

This potential growth index has been used previously to identify the growth potential of thousands of SMEs across the UK. It is encouraging to see that on average respondents to this study reported much higher scores than previous studies, which would suggest that these companies have a higher propensity for growth. This is reflected in their attitudes to growth and innovation and their ambitious business priorities. It is important to note that this is self-reported information and further research would need to be gathered over time to measure whether these aspirations were achieved in practice.

For more information on the Growth Study please read the Growth Study-Design in Wales Survey Briefing.