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CBI Confederation of British Industry : Millward Brown Mid-Markets Survey Dec 2014

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06/19/2017 | 11:21pm CEST

MID MARKETS

RESEARCH STUDY

T H E C O N F E D E R AT I O N O F B R I T I S H I N D U S T R Y

1

RESEARCH METHODOLOGY

Who?
  • 200 interviews

  • With owners/ directors of businesses with an annual turnover of £10-100m

  • Quotas of 75% and 25% were included on percentage growth in the last 3-5 years

    When?
  • Fieldwork was conducted between 29th September and 06th November 2014

    Where?
  • Research was carried out across the UK regions in England, Wales, Scotland and Northern Ireland

    How?
  • CATI telephone interviews

    Length?
  • 15-20 minutes

2

EXECUTIVE SUMMARY

  1. Mid market companies have a strategic focus on growth. Less than 2% of all

    companies contribute almost a quarter of sales and a fifth of all jobs.

    The outlook for the future looks bright for mid market companies. With growth

  2. opportunities both in the UK and internationally, 82% are confident about growth in

    their company in the next 5 years.

    In terms of external finance, long-term secured bank loan and leasing are the

  3. most popular sources of external finances and will remain so in the next 5 years. But lack of supply and economic uncertainty tend to be the biggest barriers to

    accessing external finance.

  4. In terms of resourcing, technical skills and middle management are the top skill challenges faced both within and outside the company in the wider workforce.

    With advancements in the digital space, the majority of companies recognise its

  5. importance and contribution to growth. However the cost and lack of skills in the

digital space appear as barriers to utilise these solutions to a better extent.

3 *CBI 'Future Champions Report: Unlocking Growth in the UK's Medium Sized Businesses'

OUTLOOK FOR THE FUTURE

The greatest challenges facing mid market businesses in the next 5 years are the economy, competition and government policies. While the biggest opportunities are growth in the UK and internationally in conjunction with innovation.

Challenges Over Next 5 Years Opportunities Over Next 5 Years

42%

38%

34% 32%

28%

17%

35%

8%

60%

45%

31%

18% 17% 17%

Economic Competition Government HR Financial Online Marketing Other

Growth in the UK Growth in

international markets

Innovation & products

Mergers & acquisitions

Digital/ online expansion

Other opportunities

4

Q2. What do you think are the main challenges for your business over the next five years? Q3. What do you think are the main opportunities for your business over the next five years? Base: Total 202.

CBI - Confederation of British Industry published this content on 16 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 June 2017 21:21:06 UTC.

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