UK mid-market fuelling recovery says GE Capital

Commenting on the latest UK GDP data, Ilaria del Beato, chief executive of GE Capital UK said: “It is great to see such strong growth figures for the UK confirming what we saw in our research – that the UK is firing on all cylinders with the UK mid-market fuelling the recovery.

“Our research showed that the revenues of mid-market businesses are set to grow by 6.1% this year – the equivalent of £133bn and double the rate of the UK’s economic growth. They are taking on the growth challenge from all directions, investing in exports, training, R&D and planning to add an estimated 326,000 jobs this year.

“The mid-market is a key component of delivering ‘Made in Britain’ to the world. 70% of mid-market firms are already exporting internationally, with growth in exports set to rise by an average of 7.6%, far above the UK’s current export growth rate.”

According to GE Capital’s research, the definition of a mid-market company is an annual turnover of £15-800m. Please find GE Capital’s annual ‘Leading from the Middle’ research here.