Medium-sized firms outperforming small and larger companies in Milton Keynes

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Medium-sized firms in Milton Keynes have outperformed have outperformed smaller and larger firms in Milton Keynes over the last 12 months.

New research from financial and business advisers Grant Thornton indicates the medium-sized companies did better in terms of profits, capital expenditure and employment.

Giles Mullins, from Grant Thornton’s Milton Keynes office, said: “MSBs in Milton Keynes have done fantastically well through the recent global financial downturn, and continue to outperform the market across many important metrics, supporting our view that dynamic MSBs are critical to driving both the county and UK’s economic growth.

“Of continued concern however, is the flattening of turnover for East of England MSBs and also falling productivity levels among MSBs across the UK as a whole. Our research found that one quarter of MSBs highlighted a lack of skilled talent as a major constraint to their continued success, as well as regulation and red tape, and economic uncertainty. If MSB growth continues to be weighed down by factors such these, it could impact their contribution to the UK economy.

“These results should raise a red flag to the Government and despite some welcome measures introduced in the Autumn Statement earlier this month, more needs to be done to support these businesses, particularly looking at skills, exports and incentivising businesses to invest and innovate.”