With the UK stock market enjoying renewed growth this week, I’m looking for small local businesses with promising futures. One FTSE 250 stock that’s been on my radar for a while is the famous British baker Greggs (LSE:GRG). The hugely popular high street chain is known for its sausage rolls but sells everything from doughnuts and sandwiches to ready-made salads. One lesser-known fact about the firm is its incredible share price performance. It’s up 433% in the past 10 years, delivering annualised returns of 18.22%. For comparison, one of the best-performing trusts on the FTSE 250, JPMorgan American Investment Trust, is up only 315% in the same period. It has annualised returns of 15%. Both Sainsbury’s and Tesco are down in the same period. But with the share price now so high, is there still time to grab a piece of the pie (or steak bake, for that matter)? The number of Greggs outlets has exploded since its IPO in 1984, growing almost ten-fold from 261 to 2,500 today. It would seem the nation’s appetite for cakes and pastries is insatiable, and Greggs knows exactly how to meet that demand. Admittedly, the combination of low-cost and high-carb comfort food is...