Growth factors in medium-sized enterprises: the case of an Italian region

Due to the polarisation of the Italian production system into small and large enterprises, the role of medium-sized enterprises has been largely neglected. As a consequence, studies analysing the factors that affect economic development in Italy have mainly focused on the role of small businesses or on aggregates of small and medium-sized enterprises. This study contributes to the literature by focusing on medium-sized enterprises, and the study has a two-fold aim. First, our study aimed to identify the growth factors specific to medium-sized enterprises in comparison with small enterprises. Second, of the factors that determine the growth of medium-size enterprises, we aimed to identify factors with entrepreneurial characteristics. To investigate these two aims, we surveyed and analysed medium-sized enterprises operating in the Italian region of Bergamo. Our findings highlight some of the factors that significantly determine the growth of medium-sized enterprises, including proactivity, risk taking posture and investment aimed at growth.