Recent research indicates that only a few new small firms grow to become large employers. This thesis examines the performance of the Enterprise Development Programme [EDP] which was set up to grant assist high growth potential start-ups in Ireland. Of the 239 start-ups grant-assisted under the programme between 1978 and 1992, 129 or 54 per cent were no longer trading in 1994. 4670 jobs were created in surviving firms and the vast majority were created in a small number of fast growth firms. 62 per cent of all jobs were created in 9.2 per cent of EDP start-ups. The financial structure of the fast growth EDP start-ups is compared with a match group of surviving EDP firms which demonstrated slower growth patterns. Fast growth firms were less likely than match firms to be predominantly owned by the owners and their families. Consistent with this finding new share issues were found to be a relatively more important source of finance for fast growth than for match firms. Fast growth firms also financed a relatively higher proportion of total assets from share premiums, whilst match firms financed a relatively higher proportion of total assets from ordinary shares. As found in previous studies, fast growth firms were also more dependent on government grants than their match counterparts.