Mid-market businesses – are they really a forgotten army?

It's good to see that the CBI has recognised the importance of the mid-market ( see industry news article here). It's true what Jon Cridland says about medium-sized businesses being a forgotten army. There's always lots of talk about the importance of SMEs and large scale corporates, but rarely do you hear mention of the mid-market.

You often hear about help for SMEs and how important large companies are in providing jobs and contributing to the economic recovery. However the mid-market is often overlooked for its contribution. As a mid-market enterprise ourselves, and with many of our customers falling into this category, we see first-hand the difference that medium-sized businesses are making.

Here at Access despite economic pressures we continue to grow, expand and increase our headcount and turnover, and we're certainly not the only company of our size doing that. Mid-market companies are often growing, successful, good employers, yet rarely get mentioned with the emphasis often referring to SMEs - who collectively have a larger workforce than mid-market organisations.

The mid-market employs 30 per cent of the UK's workforce and generates 20 per cent of all corporate profits; that's a sizable contribution to the economy.

So what have the CBI suggested:

• the UK to have its own version of the German "Mittelstand" - a backbone of medium-sized firms which export, innovate and generate growth 
• opening UK bond markets to medium-sized businesses, encouraging use of venture capital, and making it easier for large companies to invest in medium ones
• encouraging more medium-sized businesses to export their products and services, UK Trade & Investment (UKTI) should proactively target medium-sized firms, suggesting sources of advice and providing insights into international competition
• urging the Government to recruit more MSBs to the Prime Minister's Business Advisory Council, and to ensure its policy initiatives cater for MSBs.

There's been some move towards the Mittelstand idea with the work of the M Institute, and any moves to encourage more venture capital within the mid-market will help with growth and acquisition; I don't think any mid-market business leaders would say no to more encouragement or help from the government. We're not SMEs, we are mid-market enterprises. It's about time we're recognised for what we've achieved and given an equal voice.

Chris Bayne
CEO

Posted in Business | By Chris Bayne

Article keywords: sme, cbi, medium size business

Chris Bayne

I'm the CEO for Access UK & Ireland as well as the parent company, Access Technology Group (ATG). I work closely with our sales and development teams on upcoming trends and new features as well as with our customers, helping to meet their specific user requirements. I enjoy watching sports and having active holidays, and I'm a good weather golfer and a gadget collector. I'm an Apple iPhone and iPad addict, and I strongly believe the iPad is a viable business tool.