LONDON: More help for high-growing medium-sized firms could translate into a higher level of growth for the economy, the CBI will say today.
A report to be published today by the business organisation will show that 3,000 scale-up medium-sized businesses – those with annual turnover between £10m and £100m – contributed £59bn to the UK economy between 2010 and 2013, making the difference between recession and recovery.
Speaking at the CBI’s MSB Summit in London today director-general Carolyn Fairbairn will say that leveraging more MSB potential can propel even stronger economic growth for the UK. If the 2010-2013 scale-up rate (11%) had matched the 2005-2008 rate (15%), the £59bn contribution would have reached £85.6bn.
