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High-growth SMEs


  • M. Brun.
  • F. Chai.


Independent, high-growth SMEs are a significant driver of France’s economic growth: they create a large number of jobs, make a significant contribution to innovation and are particularly profitable when they manage to emerge. Their rapid development requires a suitable financing method: once they have reached maturity, these companies raise their equity levels in order to restore their balance sheet, opening up their capital to private investors, both households and businesses.

Suggested Citation

  • M. Brun. & F. Chai., 2012. "High-growth SMEs," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 25, pages 5-22, Spring.
  • Handle: RePEc:bfr:quarte:2012:25:01

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    SMEs; high growth; gazelles; job creation; external growth; Alternext.;

    JEL classification:

    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production


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