What is a second-stage growth company?

The definition of a second-stage growth company can vary somewhat, but it typically refers to a company that has grown past the startup stage but has not reached the point of maturity. It is also a company where the CEO is transitioning out of total control and into a more strategic role while professional managers are added to run key parts of the company. The firm still does not have the capacity to retain a full-scale professional management team. In Louisiana, a second-stage growth company is one with five or more employees, but not more than 100, and has annual revenues that exceed $600,000 but are less than $50,000,000.