THE Government was today urged to do more to help the “forgotten army” of medium-sized businesses because they can no longer rely on bank lending.
Employers’ organisation the Confederation of British Industry (CBI) said firms with a turnover of between £10-£100m represented less than 1% of businesses, but generated 22% of economic revenue and 16% of all jobs.
It said the Government should make bond markets more accessible to medium-sized companies, which could kick-start demand through credit easing.
John Cridland, director general of the CBI, said: “Medium-sized businesses are truly a forgotten army, and now is the time to unlock their potential.
“We should be championing, nurturing and encouraging our mid-sized firms so that more of them grow and create jobs.
“For too long these companies, which could inject tens of billions of pounds into our economy, have fallen under the radar of policymakers.’’
