What the evidence means
ONS defines a high-growth business as having average annualised employment growth above 20% over three years and at least 10 employees at the start of the period.
Employment-based OECD high-growth definition.
G&G verified business evidence
High-growth businesses in the UK in 2024
There were 14,330 high-growth businesses in the UK in 2024 when growth was measured by employment.
14,330
businesses
Original source
Office for National Statistics
Business demography, UK: 2024
The high-growth section records 14,330 high-growth businesses in 2024.
View original evidence
Office for National Statistics. Business demography, UK: 2024. 20th of November, 2025. https://www.ons.gov.uk/businessindustryandtrade/business/activitysizeandlocation/bulletins/businessdemography/2024
Why this matters to UK SMEs
High-growth businesses are a small but economically important group. The count provides context for scale-up policy and ambition, while reminding SMEs that the official definition describes sustained employment growth from an established base rather than growth in sales alone.
Key breakdowns
There were 14,330 high-growth businesses among 292,125 eligible businesses with at least 10 employees, giving a 4.9% rate. The count rose from 13,750 in 2023. London recorded 3,540 high-growth businesses and a 6.6% rate. Information and communication had the highest industry rate at 9.2%, followed by finance and insurance at 7.3%.
How to interpret this evidence
ONS classifies a business as high growth when employment increases by more than 20% a year on average over three years and it had at least 10 employees at the start. The measure identifies businesses meeting that threshold; it does not assess profitability, resilience or the quality of growth.
Limitations
Businesses with fewer than 10 employees at the start of the growth period are excluded, so many growing microbusinesses cannot qualify. Counts are rounded and based on the Inter-Departmental Business Register. Employment-based growth may differ from turnover, productivity or value growth, and sector structure affects comparisons.
Practical considerations
G&G perspective: treat the national count as context rather than a target. A business planning rapid growth should model recruitment, management capacity, working capital, systems and customer concentration together, and monitor whether employment growth is producing sustainable margins, service quality and cash rather than scale for its own sake.