Growth companies during the financial crisis
Results of the annual iGMO growth survey 2009
Growth companies in Flanders are not being affected financially by the crisis. Thanks to an effective approach, they are able to withstand the economic recession. That is the major conclusion of the large growth survey conducted by iGMO (Impulscentrum Groeimanagement voor Middelgrote Ondernemingen / Growth management impulse centre for mid-sized enterprises) at Vlerick Business School. The results are being presented during the iGMO Growth Management Summit 2009 on 18 and 19 June in Oostende. The research was supported by Ernst & Young and KBC.
It’s remarkable that the majority of the growth companies say that they have not experienced any financial limitations in the period 2008-2009. Even more: over half of them consider their financial position to be very strong. This indicates that − even in times of crisis − growth companies still keep their eye on their liquidity and solvability. However, these organisations are less positive about the government’s intervention in the crisis period. More than 1 in 3 think that the government’s actions have had no real effect. By contrast, they find the impact of their own actions – primarily cost-saving innovations and postponing investments − quite effective.
Prof. Hans Crijns of Vlerick Business School and Director of iGMO
The Impulscentrum Groeimanagement voor Middelgrote Ondernemingen (iGMO) is Vlerick Business School’s knowledge centre for entrepreneurship and growth. iGMO serves growth companies as a platform for networking and for the development and dissemination of knowledge. During the past few years, iGMO has continuously conducted research on the growth of mid-sized companies. The research includes all facets of company policy and is carried out in collaboration with the employers, all of them owners-managers of mid-sized Flemish companies. iGMO has 120 research members in 2009. KBC and Ernst & Young are the Prime Foundation Partners.