Member Article

GBSLEP review targets mid-sized businesses

The Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP) is to take part in a groundbreaking project looking at the support available for mid-sized businesses.

It is estimated that there are 10,000 businesses in the UK classified as being “mid-sized businesses” (MSBs), which have a turnover of between £25 million and £500 million.

Although these companies represent just 0.2% of all businesses, they account for around 20% of private sector turnover and employment.

The Department for Business, Industry and Skills (BIS) has nominated the GBSLEP to deliver one of ten national ‘pathfinders’ projects, which will carry out research and help shape future policy around supporting this type of company.

Over the next 12 months, a series of events aimed at MSBs will be held with the first focusing on investment taking place on Thursday 26thJuly hosted by KPMG at their offices in Snow Hill, Birmingham.

The GBSLEP was set up to drive economic growth, achieve global leadership in key sectors and help create 100,000 jobs by 2020.

Paul Heaven, GBSLEP Board Director, said: “We know around one in five of the workforce in the UK is employed by what we classify as a mid-sized business.

“However, traditionally much of the focus for support for business has been on small and medium-sized enterprises (SMEs).

“These ‘pathfinders’ will, for the first time, focus on mid-sized businesses and seek to understand the support they specifically require and identify any barriers they face to growing to the next level.

“From our point of view, this is an opportunity to get some of these businesses together and engage them in the work the GBSLEP is doing to support companies in our area.

“If your company fits the broad criteria of having a turnover of £25 million to £500 million or has the capacity to move into this bracket, we are keen to get you involved.”

The findings of the review will be reported back to BIS after six and twelve months.

Greater Birmingham and Solihull Local Enterprise Partnership is one of the largest of the 39 LEPs, with a population of 1.9million people and 800,000 jobs. It contributes £34 billion to the local economy.

To take part in the Mid-Sized Business Review and the opening event contact gbslep@birmingham.gov.uk

This was posted in Bdaily's Members' News section by Russ Cockburn .