Mid-sized business growth in the UK has outpaced the FTSE 350 and smaller businesses over the last five years, according to research carried out by BDO.
The accountancy firm’s figures revealed that mid-sized businesses grew turnover by 43% to £1.4tn and employment rose by 44% over the same period.
Despite ongoing uncertainty relating to Brexit and the pandemic, BDO still maintains that mid-sized, PE owned and AIM listed businesses remain the country’s “economic engine”.
Paul Eagland, managing partner at BDO, said: “History tells us that the UK’s mid-market businesses will play a huge role in the overall recovery of our economy; indeed, this segment of the market outperformed other parts in the five years prior to Covid-19.
“With this in mind and with the country facing a real risk of increasing unemployment, we would encourage the Government to ensure policies are specifically designed to help mid-market businesses invest in creating jobs.”
He added: “In particular, it’s critical that employers are able to offer our young people, our talent of the future, long term careers.”