3 growth stocks I own and think you should too

If you're looking for growth at a reasonable price, I think Shine Corporate Ltd (ASX:SHJ), Slater & Gordon Limited (ASX:SGH) and Nearmap Ltd (ASX:NEA) are exceptional long-term buy and holds.

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Growth – in the form of capital gains – is the real reason many of us venture into the sharemarket.

Sure, dividends are good. But as a long-term investor, there are few things that get me quite as excited as an increasing share price.

It doesn't have to jump 5% in one day (in fact, I'd probably prefer it doesn't). But by investing for the long term and identifying great companies trading at cheap prices, the good feeling can last a lot longer.

It's not easy to identify great growth stocks before they've jumped in price. However, I've identified three proven growth stocks which I think have plenty of room to run, despite climbing strongly over the past year.

1. Slater & Gordon Limited (ASX: SGH) is Australia's largest personal injury law firm, boasting a market capitalisation of $1.31 billion. Despite its title as a services firm, it has good economics, including a return on equity of approximately 15% and return on capital of 13%. The firm's growth potential will come from its expansion into the UK, a market five times larger than ours.

2. Shine Corporate Ltd (ASX: SHJ) is another Australian law firm. Shine only recently listed on the ASX but investors haven't hesitated to buy in, with its share price up around 80%. Shine also specialises in personal injury law throughout much of Australia, but it has only recently begun a big push into 'emerging practice areas' and outside its native Queensland. Despite a recent sell down of shares by its founders (for good reason), they remain heavily invested in the business and should provide some reassurance for long-term investors moving forward.

3. Nearmap Ltd (ASX: NEA) is a small-cap technology company which provides high-quality aerial photography for private and commercial use. Although there was some uncertainty revolving around the group's transition to a fee-paying service, it has pulled it off, in a big way. Now, the group is planning to emulate its local success abroad, with an ambitious strategy to grow in the much larger US market. However at $0.725 per share, the future potential of just its local service alone could be enough to justify the current price. Although somewhat speculative, the $247 million tech company could be a real winner moving forward.

BONUS: Another Aussie tech stock with HUGE potential as chosen by our top analysts 

Motley Fool Contributor Owen Raszkiewicz owns shares of Shine Corporate, Slater & Gordon and Nearmap Ltd. 

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