Clearview North January 2014 - Issue 146 | Page 75

BUSINESSNEWS

MEDIUM-SIZED BUSINESSES ARE
UNSUNG HEROES OF THE RECOVERY
New CBI research shows that mediumsized businesses (MSBs) are the unsung
heroes of the economy, having done much
of the heavy lifting during the recovery,
significantly contributing to jobs and
growth across the UK.
MSBs aren’t household names but employ
between 50-499 people and have a turnover of
£10-100 million.
Despite only accounting for 1.8% of the UK
private sector, MSBs have been responsible
for creating a huge number of jobs between
March 2010 and March 2013. They have

created 185,000 jobs, a 4.1% increase,
compared with 1.9% by large companies and
2.8% by small firms. They now employ 4.7
million people across the UK, 16% of our
total workforce.
In the same period their total turnover
increased by more than double that of other
firms: 7%, compared with 3.2% for large
companies and 2.9% overall. They generate
23% of total private sector revenue and their
contribution to the UK economy is estimated
to be over £300 billion GVA (gross value
added).

Looking ahead, the majority (82%) of MSBs
expect the UK economy to improve over the
next 12 months and 88% expect their own
business situation to improve.
John Cridland, CBI Director-General, said:
“MSBs contribute more than £300 billion to
the economy. With better access to a range
of growth finance options, improved training
and research support, and help to break into
new exports markets - these firms could be
worth an extra £20 billion to our economy by
2020.”

INVESTMENT FOR GROWTH
Few could argue that Solidor is
the fastest growing composite
door manufacturer in the
UK, with volumes now up to
an incredible 850 doors per
week and with the company
continuing to invest in the
growth on H[۝H