Mid-market firms could add an extra £35bn to the economy by 2030 with the right support, according to NatWest.
Paul Thwaite, the bank’s chief executive, has today led calls for a ‘step change’ to help these companies, which already add £420billion in value to the economy each year.
These firms – with between 100 to 2,500 staff and turnover between £25m and £500m – are ‘the critical backbone of our economy’.
That is the verdict of today’s report, by consultancy Oliver Wyman and NatWest. But a lack of united lobbying efforts and a worsening skills gap are among the challenges holding the sector back.
Critical: Mid-market firms with between 100 to 2,500 staff and turnover between £25m and £500m – are the backbone of our economy
Thwaite called for ‘bold and sustained action’ to help these firms create ‘a stronger, more inclusive economic future for us all.’
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