Future Champions: In the media
How UK newpapers responded to the CBI's campaign for medium-sized businesses
The Financial Times drew attention to calls by the CBI director-general, John Cridland, for the opening of capital from bond sales, venture capital and investment from larger companies to medium-sized businesses. The FT went on to report that the coalition is seeking to unlock MSBs' potential in the second phase of its growth review, to be announced by George Osborne on November 29.
The Financial Times also quoted Mr Cridland's call for the UK to "have its own version of the German Mittelstand - a backbone of medium-sized firms which export, innovate and generate growth". This statement was repeated by the Guardian, which ran with the CBI's call for more support for a "forgotten army" of medium-sized firms. The Times similarly reported Mr Cridland's calls for British industry to "march like the Germans" and for government to support the "forgotten army".
The Daily Telegraph, meanwhile, drew attention to the potential £50bn growth that government support for MSBs could generate. The Independent also reported on the "golden opportunity" for growth that MSBs offer the government.
The BBC echoed the FT in focusing on the need to help MSBs gain access to capital, in particular via the bond market. Meanwhile, in regional news, the Newcastle Journal repeated warnings that the north east's medium-sized businesses were being overlooked, while the Western Mail picked up on the report's findings that Wales has ones of the highest proportions of employment by MSBs, with 18.6 per cent of jobs coming from such firms.
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