‘Calculated investment risks’ deliver £11.3bn overseas turnover for North West mid-sized businesses

Mid-sized companies have been the driving force behind the North West’s overseas turnover in the last year, according to new research.

Data released by accountancy and advisory firm BDO has underlined the prominent role played by these businesses in the region, as the Government prepares to trigger Article 50 and get Brexit negotiations underway.

The research showed that mid-sized businesses across the North West generated more than £11.3bn in foreign trade last year.

In comparison, the region’s FTSE 350 companies generating £6.5bn, while small businesses generated £0.7bn.

For the UK as a whole, mid-sized firms continued to grow their collective overseas turnover, with overseas trade rising year on year by 7% to £127bn.

In light of the findings, BDO said it is calling on the Government to place what it considers to be ‘overlooked and undervalued’ mid-sized businesses at the heart of its thinking as it prepares to invoke Article 50.

The firm said that while there are just 30k mid-sized companies in the UK, representing around 1.5% of businesses, they contribute one-third of all UK turnover.

BDO partner Ed Dwan said: “High-performing and entrepreneurially-spirited mid-sized businesses are the economic engine of UK international growth in North West.

“Despite all the uncertainty of the past 12 months these companies have taken calculated investment risks and prospered.”

He added: “It is crucial that the Government factors the needs of North West mid-sized businesses into their thinking ahead of negotiations.”

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