“The Mid-Market is a trillion pounds worth of UK’s total Private Sector turnover and ¼ of the jobs created.”
Following years of economic downturn, growth has returned, businesses are confident and employment figures are promising. But this burst of success cannot allow us to become complacent. As a nation we should be wary of repeating the mistakes of the past and globally there is still a risk of further shocks to the system.
We need to build an economy that is balanced and sustainable which will create jobs around the country. A ‘new economy’ is needed which is not over-reliant on one sector or region but which seeks to balance growth throughout the UK.
We believe that the mid-market should be at the heart of plans to put the economy on a more balanced footing. But today too many British companies cannot fulfil their potential. To harness the entrepreneurial spirit of our businesses we want the Government to focus on three areas:
Somebody needs to flick the switch
Customer relationship managers for mid-sized businesses:
A single point of contact with the Revenue to ensure businesses have certainty of what they owe and enable clear conversations between businesses and the Revenue to take place.
Accountants and Business Advisers © 2016 BDO LLP
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Scott Corfe, Head of Macro Economics, Centre for Economic and Business Research
Development of a Capital Markets Union:
Unlock the movement of financial capital around Europe by developing a more diversified financial system and offering businesses a greater choice of funding at lower costs.
Better roads and rail links will help businesses on the cusp of economic success cement their position and help their businesses to thrive.
New policies are needed and below we highlight some recommended ideas. To read more about our vision for a new economy — and where your business fits in — please download our report.
02: Help UK businesses grow internationally
03: Create geographic and sector powerhouses