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Articles

Myth-busting and entrepreneurship policy: the case of high growth firms

, &
Pages 414-443
Received 08 May 2015
Accepted 02 Feb 2017
Published online: 15 Feb 2017
 

Abstract

Promoting high growth firms (HGFs) has become a strong fixation within enterprise policy. This is a debate article seeking to examine and challenge the mythology perpetuated by policy makers and embedded within high growth entrepreneurship policy frameworks. Within the article we argue that a number of distinctive ‘myths’ have become deeply embedded within these policy frameworks. Such myths have been built on misconceived preconceptions of HGFs, which has resulted in policy-makers taking a myopic view of these firms. A key aim of the paper is to highlight how false perceptions of HGFs translate into inappropriate policy interventions. The paper challenges some of the most commonly held myths about these firms (that they are predominantly young, small, high-tech, VC-backed, university spin-outs, who grow in an orderly organic fashion, operating similarly irrespective of location) and identifies a clear mismatch between how policy makers perceive HGFs and what they actually look like in reality. Suggestions for the design of future policy approaches are forwarded.

Acknowledgements

This paper draws in part on research undertaken by the authors for Scottish Enterprise, Department for Economy in Northern Ireland and the OECD. The authors are grateful for this funding but stress the views contained in this paper represent those of the authors alone. They also wish to thank the editor and two anonymous referees for their valuable contribution to refining the arguments contained within the paper. The usual disclaimers applies.

 

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