Use of English

Start-ups and Growth

Economists often argue that small start-ups play an outsized role in modern economies. Although many of them fail within a few years, the ones that survive can (0) BRING fresh ideas to the market and challenge established firms to innovate. In doing so, they help create a climate in which competition is not merely tolerated but actively (1) .......... . One reason start-ups matter is that they are quick to respond to gaps in the market. Large corporations may hesitate, tied up in layers of approval, whereas smaller firms can act (2) .......... and test new products before trends shift. If successful, they may take on staff, expand operations and (3) .......... to local demand for office space, services and transport. Their influence also extends beyond direct employment. Investors who are willing to (4) .......... a chance on an unproven company often provide the funding that allows a promising idea to develop into a viable business. In turn, this can encourage further research, attract skilled workers and (5) .......... off a cycle of innovation. Of course, not every start-up becomes a major success. Even so, governments frequently support them because of the wider benefits they may (6) .......... about. In regions where new businesses flourish, there is often a noticeable (7) .......... in productivity, confidence and consumer choice. For that reason, start-ups are widely seen as a key (8) .......... of economic growth.