Growth rates can be calculated using various methods, the simplest being the percentage change formula: \[ \text{Growth Rate} = \left( \frac{\text{Current Period Value} - \text{Previous Period Value}}{\text{Previous Period Value}} \right) \times 100 \] For example, if your revenue was $500,000 last year and it is $750,000 this year, the growth rate is: \[ \left( \frac{750,000 - 500,000}{500,000} \right) \times 100 = 50\% \]