Majority of small businesses not interested in scaling

Most small businesses have little interest in significantly scaling despite there being a push to so by the Government.In fact, a new study shows that the majority of so-called micro-businesses start small and stay small with just one in four looking to grow into a national or international business. The University College Cork (UCC) study indicates that 71 per cent of micro-businesses are keen to keep their business similar in scale to how it operates currently. In addition, the proportion of companies “looking to grow rapidly with a view to exit” stands at 40 per cent, versus 58 per cent in the US. Overall, just 27 per cent of micro-businesses expressed an interest in building a big business. Almost half of micro-business owners said they wanted to build a business they could hand on to family members while only 43 per cent expressed an interested in having a chance to “build great wealth or a very high income”.