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Measuring Entrepreneurial BusinessesCurrent Knowledge and Challenges$
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John Haltiwanger, Erik Hurst, Javier Miranda, and Antoinette Schoar

Print publication date: 2017

Print ISBN-13: 9780226454078

Published to Chicago Scholarship Online: May 2018

DOI: 10.7208/chicago/9780226454108.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 27 September 2021

High-Growth Young Firms

High-Growth Young Firms

Contribution to Job, Output, and Productivity Growth

Chapter:
(p.11) 1 High-Growth Young Firms
Source:
Measuring Entrepreneurial Businesses
Author(s):

John John Haltiwanger

Ron S. Jarmin

Robert Kulick

Javier Miranda

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226454108.003.0002

Research shows job creation by small firms in the U.S. is attributable to start-ups and young firms, but most of these fail or don’t create jobs. A small proportion of young firms grows rapidly and accounts for the long-lasting contribution of start-ups to job growth. High growth firms are not well understood, and little is known about their life cycle dynamics, or their contribution to other key outcomes such as real output growth and productivity. In this chapter, we enhance the Longitudinal Business Database with gross output (real revenue) measures and find that patterns for high output growth firms largely mimic those for high employment growth firms. High growth output firms are disproportionately young and make disproportionate contributions to output and productivity growth. The share of activity accounted for by high growth output and employment firms varies substantially across industries—in the post-2000 period high growth firms’ share of activity is significantly higher in the high tech and energy related industries. A firm in a small business intensive industry is less likely to have high output growth but small business intensive industries don’t have significantly smaller shares of either employment or output activity accounted for by high growth firms.

Keywords:   high growth entrepreneurs, job creation, output, productivity growth

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