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‘Critical’ mid-market UK firms stifled by red tape and skills gap

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NatWest’s report into the sector and plans for a new representative council has gained the backing of the Government’s Business Secretary.

NatWest has called for more support for thousands of “critical” mid-market companies it says are held back by red tape, planning delays, and restrictions on hiring skilled overseas workers.

It refers to companies with turnover between £25 million and £500 million, bigger than SMEs but smaller than large corporates. This includes an increasing volume of red tape for companies that start trading internationally, with post-Brexit complexity deterring trade with the EU, according to the report.

Furthermore, NatWest’s report found that the sector is likely to face a shortage of skilled workers, with many firms unable to fill the gap with overseas hiring due to increased restrictions. NatWest said it was creating a new UK mid-market corporate council, backed by the Department for Business and Trade, with members from across the sector, starting in 2025.

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