Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Mid-market business hotspots – engines of our economy – Full Analysis.
Our report findings at a glance:
- NatWest research shows the UK’s top 25 areas for mid-market business growth, with Manchester, Leeds and Oxford leading the charge.
- Manchester sets a regional benchmark, with the greatest number of companies experiencing above-average growth after London.
- Smaller authorities such as Slough and Telford are punching above their weight as innovation epicentres of the country.
Last year NatWest launched the Critical Middle Report, which highlighted how “mid-market businesses are the powerhouse of the UK economy”.
Despite representing just 0.5% of UK companies, they drive over a quarter of the national turnover and are responsible for an impressive 30% of the country’s economic Gross Value Added (GVA). It’s evident that recognising the vital role of mid-market companies (MMCs) is essential to UK growth.
Growth engines of our economy
MMCs are not just market participants; they are growth engines deserving our attention and support. Their adaptability, scale, and resource access position them uniquely to lead economic progress.
These businesses outpace the broader economy in growth rates and demonstrate higher productivity levels, making them critical players in the Government’s growth agenda as well as within their local economies.
Looking beyond London
Our latest report on the mid-market sector spotlights the towns and cities across the length and breadth of the UK where there is a high concentration of these companies.
This growth is not confined to London; regional towns and cities like Manchester, Oxford, and Leeds are emerging as innovation hotspots, showcasing excellence in fields like digital services, life sciences, and health technology.