Define gazelle, and discuss some ways that gazelles impact the economy.
What will be an ideal response?
ANSWER: New and smaller firms create the most jobs in the U.S. economy. The facts speak for themselves. The vast majority of these job-creating companies are fast-growing businesses. David Birch of Cognetics, Inc. has named these firms "gazelles." A gazelle, by Birch’s definition, is a business establishment with at least 20 percent sales growth every year for five years starting with a base of at least $100,000.
The "gazelle factor" may be the most important finding in economic growth. Consider that, despite the continual downsizing in major corporations over the last decade, gazelles produced 5 million jobs and brought net employment growth to 4.2 million jobs. More recently, gazelles (which currently number about 358,000, or 4 percent of ongoing companies) generated practically as many jobs (10.7 million) as the entire U.S economy (11.1 million) during the same period.
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