Vlerick Expertise in Entrepreneurship

Start-ups and young businesses aiming for growth need resources - funding, staff, material, customers and so on. But why would anyone provide resources to a small business that has nothing concrete to show for it yet? How can you convince others if you haven’t yet proved your worth? A study by Professor Sophie Manigart and her colleagues show that what are known as ‘soft signals’ can be very useful in this situation.

A company’s Advisory Board and Board of Directors can have significant impacts on its performance. However, not so many young Belgian companies with growth potential have such governing bodies. Only 8% have Advisory Boards, and one in five have Boards of Directors. Although the compositions of the Boards of Directors are relatively diverse and complementary, only one in five has independent directors. Moreover, only 16% have a female presence; compared to the US (37%) or the UK (47%), women are under-represented on Belgian Boards of Directors. On the positive side, the Boards of Directors meet much more frequently than is generally recommended, which means that these young growth companies fully exploit their expertise. These are the main conclusions of the fourth edition of the Rising Star Monitor

When you consider pursuing a new business opportunity, it makes sense to assess the opportunity in a systematic way (rather than purely relying on gut feel). A business plan helps you structure your analyses and present them in a way to help others understand your plan – and hopefully agree with you.

There is an ongoing debate in academia about whether family firms are more socially responsible than others. So far, research has not been conclusive. In order to further the discussion, professor Kerstin Fehre, together with a colleague from the Institute of Management at the Karlsruhe Institute of Technology, rephrased the question: “Does the management of family firms pay more attention to corporate social responsibility (CSR)?”

A group of 822 high-growth firms accounts for one in three jobs created by private companies with a minimum of ten employees. These high-growth firms represent just 3.5% of Belgian businesses with a minimum of ten employees. A small minority of 3.5% of Belgian businesses with a minimum of ten employees is responsible for the creation of 45,947 jobs. This amounts to 67% of the total net number of jobs created by business with a minimum of ten employees in the period from 2014 to 2017. This is apparent from the results of the annual Belgian High-Growth Monitor.

Young Belgian companies with ambitions to grow set the bar for growth higher and higher. These scale-ups do not shy away from taking the step to sell aboard, where they generate nearly 30 percent of their total turnover. They are growing smart and are doing so primarily through less risk and hybrid ways for growth, such as licences and strategic alliances. Finally, the average salary that the founders pay themselves has remained constant in the last three years. These are the most significant conclusions of the third edition of the Rising Star Monitor. This annual survey by the Vlerick Business School and Deloitte Belgium provides insight into the trends and challenges for young Belgian companies with growth potential.

Co-authors Professor Sophie Manigart and Professor Miguel Meuleman explain why the handbook 'Entrepreneurial Finance, The Art and Science of Growing Ventures' is required reading for anyone who wants to know or learn more about the financing of start-ups in Europe.

Private equity could be the best solution for your company. But how to find the best investor for you company? In this whitepaper two Vlerick experts share 10 tips for working with private equity.

The Belgian mergers and acquisitions market gradually seems to be reaching its peak. It is not just the number of transactions but also the selling prices which rose for the fifth year in a row in 2017. The highest valuations are found in the real estate sector followed by pharmaceuticals, technology and healthcare. The demand is greater than the supply and competition is increasing. In addition, more and more foreign players are showing an interest in Belgian companies. In view of the anticipated further growth in 2018, there is a danger of overheating. These are the main conclusions of the M&A Monitor, an annual survey which involves over 150 Belgian mergers and acquisitions experts and advisers.

Half of the organisations surveyed in the Rising Star Monitor, a report on the trends and challenges for young, high potential ventures in Belgium, intend to grow, but not always at very high speed. A second major finding refers to the fact that founders often forget to enter into a proper shareholder agreement, which is worrying as one in four founders leaves their company within the first three years. To support high-potential ventures in their path to rapid growth, attention should be paid to attracting potential employees in a more professional manner and providing existing employees with more feedback and a clearly defined career path.