American startups are growing at a faster rate than they have been in recent years, according to a new report.
The 2017 Kauffman Index of Growth Entrepreneurship looks at the revenue and employment performance of startups, scale-ups and high growth companies.
“Startups that turned five years old in 2016 grew an estimated 75.6 percent in their first five years of operation – from almost six employees when they were founded to more than 10 employees for surviving businesses in their fifth year. This in an increase of more than 5 percentage points compared to 2015,” the Kauffman Foundation said.
This latest report builds on the 2017 Kauffman Index of Startup Activity, released earlier this year, which revealed the American startup scene continued its upward trend in 2016, thanks largely to the pioneering efforts of immigrants.