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Our report findings at a glance:

  • NatWest research shows the UK’s top 25 areas for mid-market business growth, with Manchester, Leeds and Oxford leading the charge.
  • Manchester sets a regional benchmark, with the greatest number of companies experiencing above-average growth after London.
  • Smaller authorities such as Slough and Telford are punching above their weight as innovation epicentres of the country.

 

Last year NatWest launched the Critical Middle Report, which highlighted how “mid-market businesses are the powerhouse of the UK economy”.

Despite representing just 0.5% of UK companies, they drive over a quarter of the national turnover and are responsible for an impressive 30% of the country’s economic Gross Value Added (GVA). It’s evident that recognising the vital role of mid-market companies (MMCs) is essential to UK growth. 

 

Growth engines of our economy

MMCs are not just market participants; they are growth engines deserving our attention and support. Their adaptability, scale, and resource access position them uniquely to lead economic progress.

These businesses outpace the broader economy in growth rates and demonstrate higher productivity levels, making them critical players in the Government’s growth agenda as well as within their local economies. 

 

Looking beyond London

Our latest report on the mid-market sector spotlights the towns and cities across the length and breadth of the UK where there is a high concentration of these companies.

This growth is not confined to London; regional towns and cities like Manchester, Oxford, and Leeds are emerging as innovation hotspots, showcasing excellence in fields like digital services, life sciences, and health technology. 

Why mid-market companies matter

  • Economic Impact: MMCs contribute significantly to GDP, employment, and national turnover.
  • Productivity Leaders: These companies often demonstrate higher productivity levels compared to small and mid-sized enterprises.
  • Strategic Importance: MMCs support millions of jobs across the UK and are vital within local economies.

Our commitment to mid-market companies

At NatWest we will continue to act as a leading voice for mid-market companies. In the last nine months we have driven forward the ambition to give MMCs a collective voice and established an industry-wide UK Mid-Market Growth Council to formalise governmental support and enhance assistance from financial institutions and industry associations.

By highlighting these regional pockets of achievements, innovation and growth among mid-market companies across the UK, we aim to inspire policymakers, investors, and other businesses to recognise and support this vital sector. 

About the report

In this report we discover where in the UK the distribution of mid-market power is settling, beyond the capital.

Our report begins with an overview of the towns and cities in the UK where mid-market companies are experiencing above-average growth. It then zooms in on the geographical distribution of almost 3,000 companies we have identified as being true innovators.

We have further broken this down into five sectors to identify regional hotspots for innovative industries from fintech and retail to life sciences and climate tech.

UK’s Business Growth & Innovation Hotspots

Download our latest report.

Methodology

Beauhurst identified 29,171 active mid-market companies in the UK with annual turnover between £25m and £500m. From this cohort, we identified a subset of 2,874 innovative companies that meet at least one of our three innovation signals: 1. Has spun out of an academic institution 2. Has received a large innovation grant 3. Has been granted a patent.

Geographical methodology

Local authorities are identified using the company’s head office or registered address. Where the local authority aligned closely with a single city or town, this was used to represent the area. However, in some cases, where there is a concentration of small local authorities across a town or city and a number of mid-market companies are spread within them, then these local authorities are grouped into a recognisable local area.

The material published on this page is for information purposes only and should not be regarded as providing any specific advice, or used by consumers to make financial decision. Terms and conditions apply to any products or services mentioned.

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