Interesting findings emerged recently from the last research on High Growth Firms by Unioncamere (the Italian Union of the Chambers of Commerce, INSME member), which was presented in Rome by the INSME General Secretary, Giovanni Zazzerini. The research was carried out in the framework of the SISPRINT project, co-financed by “Agenzia per la Coesione Territoriale,” within the “PON governance 2014-2020 plan,” and by EU. The study identifies governance and ecosystem characteristics that allow the enhancement of High Growth Firms (HGFs), defined by the OECD as enterprises with an average annualised growth greater than 20% a year, over a 3-year period, and with 10 or more employees at the beginning of the observation period. They are surprisingly important in many economies worldwide, as they play a crucial role in the job and wealth creation process.
The work analysed HGFs characteristics within the Italian productive fabric from different angles.assessing their value at stake; examining the extent to which economic ecosystems are ready to embrace them; collecting international best practices and public policies to be put in place to let small companies grow efficiently and quickly. A good role model for example is represented by the “go-cluster”, a German programme that offers advisory, visibility, training and certifications to SMEs. Such programme could be replicated elsewhere to have better management of clusters, especially in areas where specific competencies are eradicated and where good partnerships with research centres and universities are already in place.
Some policy recommendations are suggested as well. Firstly, governments should develop a favourable ecosystem with effective technology transfer mechanisms, an education system able to provide skilled workers and smooth bureaucratic processes.
It is also important to create an environment tailored to the supply of advanced services, both for commercial actors and industrial players. It is also crucial to put in place digital platforms to connect players, fostering participatory projects planning, and leveraging on open innovation.
Finally, it is suggested that public authorities should act as facilitators, able to fine-tune the demand and supply among stakeholders. Public bodies should not be in charge of the direct provision of services and resources; they have the task of providing infrastructures and capital goods to SMEs, in the case they have not access to them because of the lack of financial resources. At the same time, when they find enterprises with outstanding performances, policymakers should sustain and incentivise them, as these companies are able to activate knock-on benefits for the whole region.
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Source: The International Network for SMEs - INSME
