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According to NatWest, medium-sized businesses could add an extra £35 billion to the economy by 2030 with the right support.
Paul Thwaite, the bank’s chief executive, has today led calls for “radical change” to help these companies, which already add £420bn in value to the economy each year.
These companies – with between 100 and 2,500 employees and a turnover of between £25 million and £500 million – are “the fundamental backbone of our economy”.
This is the verdict of today’s report from consultancy Oliver Wyman and NatWest. But a lack of joint lobbying efforts and a worsening skills gap are among the challenges holding the sector back.
Critical: Medium-sized businesses with between 100 and 2,500 employees and a turnover of between £25 million and £500 million are the backbone of our economy.
Thwaite called for “bold and sustained action” to help these companies create “a stronger, more inclusive economic future for us all.”
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