Little growth in Shanghai as no business is on the up (6)
I believe the answer is:
bonsai
'little growth' is the definition.
'bonsai' can be an answer for 'growth' (I have seen 'stunted growth' mean 'bonsai' so perhaps 'growth' could also mean 'bonsai'). I also know that 'little' relates to this answer.
'in shanghai as no business is on the up' is the wordplay.
'in' indicates the answer is hidden within the clue.
'is on the up' is a reversal indicator (in a down clue, letters go up).
'iasnob' is hidden in the letters of 'shanghai as no business'.
'iasnob' back-to-front is 'BONSAI'.
(Other definitions for bonsai that I've seen before include "Art of dwarfing shrubs" , "Tiny Japanese tree" , "Japanese method of cultivating miniature trees" , "The art of growing ornamental dwarfed plants" , "Little plants" .)