RESTON, VA–February 20, 2024: Two wars, ongoing economic uncertainty, and industries at the precipice of disruption by AI have done little, if anything, to slow down the growth of a special subset of professional service firms–High Growth firms. The past year’s high growth firms grew at a whopping median rate of 41%, a leap of nine percentage points more than the previous year’s and four times faster than their peers, according to the Hinge Research Institute’s 2024 High Growth Study. In fact, firms as a whole seemed unfazed by the turbulence, performing at a professional-services-wide median growth rate of 14%, the highest since the study began in 2015. Firms’ resilience was also reflected in their profitability. High Growth Firms enjoyed 25% profitability while their slower-growing peers also improved theirs. Even firms whose revenues dipped in 2023 improved their profitability to 15%… (Read the full press release here)

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