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CBI calls for increased help for medium sized businesses

The CBI is calling on the government to offer more help to medium sized businesses, who are often ‘under the radar’ of policymakers.

According to BBC reports, firms turning over sums between £10m and £100m represented less than 1% of UK businesses, but generated 22% of revenue and 16% of jobs.

CBI director general John Cridland is now calling on the government to offer medium sized businesses more support to help them grow and create jobs

He commented: “For too long these companies which could inject tens of billions into our economy have fallen under the radar of policymakers.”

Finance is also a recurring issue for medium sized businesses, and Mr Cridland also asked for more government support in this area.

“This means opening UK bond markets to medium-sized businesses encouraging use of venture capital, and making it easier for large companies to invest in medium ones, possibly in their supply chains.”

A government spokesperson said that the government is now focussing on this group as part of the growth review, and would set out its proposals in the autumn statement in November.

This was posted in Bdaily's Members' News section by Ruth Mitchell .