FINANCE
Policies will champion UK economic engine
Entrepreneurially-spirited mid-sized businesses have been the driving force behind overseas turnover in the East Midlands in the past year, according to new research from accountants and advisers BDO. The research reveals that mid-sized businesses in the
East Midlands generated over £5.8bn in foreign trade last year compared to the region’s FTSE 350 businesses generating £2.3bn and its small businesses generating £0.6bn. Despite a volatile 2016, and with
the shadow of Brexit looming, mid- sized firms remained confident throughout the UK and continued to grow overseas turnover; increasing overseas trade by seven per cent (from £119bn to £127bn). In comparison, the levels of overseas trade of FTSE350 and small businesses across the entire UK in 2016 fell 30% (from £524bn to £366bn) and 13% (from £12bn to £10.4bn) respectively. To ensure that this growth continues, BDO is calling
‘It is crucial that the Government factors the needs of the East Midlands’ mid-sized businesses into their thinking
economic engine falls into a policy gap: too big to benefit from Government initiatives aimed at small firms but too small to win the attention that FTSE firms command from the media and policy makers. In response, BDO has set out 22 policies which it thinks will put the UK’s mid-sized businesses at the centre of a ‘new economy’ which will thrive post Brexit.
Richard Rose, Midlands Tax Partner at BDO, said: “High- performing and
entrepreneurially-spirited mid-
on the Government to place these mid-sized businesses (what BDO calls the UK economic engine) at the heart of its thinking. While the UK’s economic engine consists of only
30,000 UK companies (1.5% of all UK companies) it contributes one third (£1.2tn) of all UK turnover. Yet despite driving overseas growth and making a significant contribution to domestic markets, the UK
sized businesses are the economic engine of UK international growth in the East Midlands. Despite all the uncertainty of the past 12 months, these companies have taken calculated investment risks and prospered. It is crucial that the Government factors the needs of the East Midlands’ mid-sized businesses into their thinking ahead of negotiations.”
Richard Rose
56 business network May 2017
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64
