SWEDEN - Sweden records largest share of super growth companies

Tine
16 March 2006

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Sweden has been ranked the top European country in Grant Thornton International Super Growth Index and has the highest number of fast growing businesses. The US tops the list followed by India, Hong Kong and Sweden. Sweden climbed back up the Index to fourth position after falling to tenth last year from first position in 2004.

The country’s resurgence was a reflection of a recovery in domestic spending and increased business investment. ‘We notice among our customers that a lot of companies are doing well at the moment and even hiring,’ says Peter Bodin, managing director of Lindebergs Grant Thornton.

Other strong performances came from Ireland, the United Kingdom and Canada, which took the next three super growth rankings. The Super Growth Index 2006, now in its third year, is a research project which forms part of the Grant Thornton International Business Owners Survey, which surveys more than 7,000 business owners worldwide in 30 countries.

A ‘super growth’ company is one which has grown considerably more than the average measured against key indicators including turnover and employment. This year the survey established that super growth companies are 23 per cent more likely to export than ordinary companies.