Only three in 10 micro businesses reach medium scale – ILAPI research

ILAPI said the transition from micro to small took an average of about eight years, while the full transition from micro to medium could take between nine and 12 years.

The study covered 600 businesses, comprising 347 micro-enterprises, 155 small enterprises, and 98 medium enterprises.

The study noted that the most significant drop-off occurred between micro and small enterprises, where businesses faced limited capital and increasing regulatory requirements.