The Liverpool City Region’s scaleup businesses employ 8,000 more people than this time last year.
That’s according to a new report which also found that the number of scaleups in the region has risen from 550 to 610.
A scaleup is defined as a business which has an average annual growth greater than 20% over a three-year period, having had at least 10 employees in the first year.
The ScaleUp Institute’s annual ScaleUp Review shows that in 2018, the Liverpool City Region had 58,513 employees who worked in scaleup businesses, up from 50,197 in 2017.
The top five scaleups by employee growth have been named as Castlerock Recruitment Group, The Contact Company, Potens, Cheshire Mouldings, and Mac Roofing and Contracting.
Janice Mears, commercial broker for Liverpool City Region LEP (pictured), says: “Scaleup businesses are crucial for the region’s economy and the fact that we’ve got 8,000 more scaleup employees compared to this time last year is fantastic. It’s encouraging that people are looking to the Liverpool City Region for employment.
“While the increase in employees, and total number of scaleups, is fantastic news for the region, a lot more needs to be done for the scaleup community to overcome the barriers that its facing.
“That’s why the Liverpool LEP and Local Growth Hub are working closely on a range of initiatives that will enable businesses to access the support they need to drive them on their scaleup journey.”
The top three barriers for scaleup businesses have been identified as access to talent, access to UK markets and customers, and access to public sector support and funding for research and development.