Confederation of British Industry hails £59 billion contribution of scale-up firms to UK economy
In her first keynote speech as the CBI’s new director general, Carolyn Fairbairn has revealed that, collectively, the UK’s 3,000 scale-up medium-sized businesses (MSBs) contributed no less than £59 billion to the economy between 2010 and 2013, subsequently making the difference between recession and recovery.
Speaking at the CBI’s MSB Summit in London – run in partnership with Lloyds Bank – Fairbairn stated that leveraging more MSB potential can propel even stronger economic growth for the UK. If the 2010-2013 scale-up rate (11%) had matched the 2005-2008 rate (15%), the £59 billion contribution would have reached £85.6 billion.
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