UK to Launch Council Advocating for Overlooked Mid-Market Businesses

NatWest and the UK government aim to boost economic growth by addressing challenges faced by mid-sized firms, including infrastructure gaps and skill shortages.

• A new UK Mid-Market Corporate (MMC) Council, supported by NatWest and the Department for Business and Trade, will launch in 2025 to represent mid-sized businesses.
• Mid-market firms, defined as those with turnovers between £25 million and £500 million, account for 0.5% of UK companies but employ over 7 million people and contribute significantly to the economy.
• NatWest's report highlights barriers to growth, including red tape, post-Brexit trade complexities, poor infrastructure, and restrictions on hiring skilled overseas workers.
• The report estimates that addressing these challenges could add £115 billion to the UK economy by 2030, with a 1% growth in the sector potentially contributing £35 billion.
• Business Secretary Jonathan Reynolds emphasized the sector's potential to drive economic growth and productivity, particularly in regions outside London and the southeast.

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