Growth Flag, launched in January 2023 is a first-of-its-kind, online tool designed for policy makers, commissioners, business decision-makers and analysts – so they can develop strategic plans, optimise operations, and improve efficiency.
It pulls live data from a comprehensive dataset - that is easily analysed by the user - to instantly present clear visuals and downloadable data, showing where growth potential exists in individual businesses across the UK.
Growth Flag began its journey when Red Flag Alert and GC had a vision to drive growth and utilise a wide range of data sources. With a year of successful operation under its belt, Growth Flag has now released an annual report highlighting business growth potential, both in local economies and across the UK.
Growth Flag has had an eventful journey. It's challenged the misconception of growth and enabled organisations to understand their strength in their regions. Using their data insight tool, Growth Flag has helped business owners to understand how they can use the data insights provided to maximize their success and growth. It's transformed from an idea into a ground-breaking tool with an impressive 93% success rate in predicting economic development.
Some key findings from the annual report:
• 13.1% of UK Businesses are likely or very unlikely to grow 20% in the next financial year.
• Areas geographically close to but outside of city centres tend to have higher proportions of businesses with growth and high growth potential.
• 66% of businesses in the professional, scientific, and technical activities sector have growth potential.