As part of a series of reports focused on scaleup ecosystems worldwide, Endeavor Insight has analyzed the impact of scaleup companies on the economies of two emerging markets: Bangladesh and Uganda. Entitled “The Critical 5 Percent” (Bangladesh) and “The Critical 6 Percent” (Uganda), the reports highlight job creation and economic growth driven by high-impact entrepreneurs in each country. Earlier reports in the series studied the economies in Colombia, Indonesia, Jordan, Mexico and Peru.
Scaleup companies, defined as companies more than three years old with a minimum of 20% average annual employment growth, are a critical component of economic and social development in many global economies, including Bangladesh and Uganda. The report found that these businesses represent just 5% and 6% of these countries’ total number of firms, but created 70% and 50% of net new jobs in each country, respectively. For economies like these in particular, where the labor forces are projected to grow in the millions by 2020, the demand for new jobs has never been higher. Both nations will need to create millions of new jobs in order to keep up with population growth within the next decade.
With the demand for employment opportunities continuing to climb, scaleup companies are critical to creating an environment for continued growth, addressing the challenge of unemployment by driving innovation, strengthening value chains, and paving the way for long-term expansion. As the largest job creators in these countries, scaleups need access to the types of services Endeavor works to provide, promoting the right mix of talent, funding and networks to accelerate high-impact entrepreneurship that can transform the region.
To read the full reports and learn more about the research, click below.