Belgian high growth monitor. Shedding light on Belgium's fastest growing firms

Abstract

Fast-growing businesses are known as the engine of job creation. The situation is no different in Belgium. During the last available research period (2015-2018), 920 fast-growing companies were responsible for 52,779 new jobs. They represent 3.8% of Belgian companies with at least 10 employees. Although these figures reveal that Belgium is doing less well than the European average, this group of healthy Belgian ‘gazelles’ does show stability. Over the years they have created around 50,000 jobs during each growth period, even during the period 2009-2012 which was ravaged by the financial crisis. A hopeful sign, especially now that many companies are having trouble keeping their heads above water.

This is evident from the annual Belgian High-Growth Monitor, a study conducted by the Growth Management Impulse Centre for Medium-Sized Enterprises (iGMO) at Vlerick Business School, in collaboration with partners EY and KBC. Professor Hans Crijns and lecturer Yannick Dillen analysed the figures available for Belgian fast-growing companies* from the period 2015-2018, in combination with a survey of Belgian owners/managers of growth companies. This survey dates from just before the first wave of coronavirus, but was supplemented by a follow-up survey in the summer.