A government-supported group is being established to represent the UK’s mid-sized businesses, often overlooked despite their significant contribution to the economy.
According to a NatWest report, these “unsung” firms could add an additional £115 billion to the UK economy by 2030 with the right support, driving growth particularly in regions outside London and the southeast.
Mid-sized businesses account for just 0.5% of UK companies but employ over 7.3 million people — more than a quarter of the private sector workforce. They play a crucial role in areas such as the West Midlands, northeast England, Yorkshire and the Humber, and Scotland, the report found.
However, challenges including skill shortages, poor regional infrastructure, and a lack of representation are holding back their growth. Unlike Germany’s Mittelstand, the UK’s mid-market firms lack a collective identity and advocacy platform, leaving their interests overshadowed by larger corporates and small business groups.
To address this, a “mid-market council” is set to launch in 2025, supported by NatWest and the Department of Business and Trade. The council will act as a unified voice for the sector, representing key industries and addressing critical issues such as infrastructure, planning, and skills shortages.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
