Medium-sized businesses power ahead of the pack on overseas revenue growth

Mid-sized companies are boosting Britain’s revenue growth overseas, driving international turnover by 63 per cent in the last five years, according to research.

Read more: Medium-sized businesses lead UK revenue growth overseas

New data has revealed that the increase, from £96bn to £157bn, exceeds that of FTSE 350 companies that have seen a 15 per cent decline in overseas turnover in the same period.

Mid-sized businesses based in London were the best-performing in the country for foreign revenue growth, recording an increase of 80 per cent from £28bn to £50bn. The south west and the west Midlands grew overseas turnover by 69 per cent and 66 per cent respectively, said accountancy and business advisers BDO.

BDO managing partner Paul Eagland said: “It is great to see the UK’s economic engine excelling both in terms of overseas and domestic growth. These are bold businesses with entrepreneurial instincts who are succeeding despite the current uncertainty.

“We want to see this growth continue which is why we are calling upon the government to do more to help this overlooked and undervalued segment of the UK economy. Simplifying tax, investing in infrastructure and prioritising skills are all policy areas that the government should be focusing upon”.

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Domestic turnover growth among mid-sized firms has increased 44 per cent over the same five year period, from £920bn to £1.3 trillion. For FTSE 350 and smaller firms, the revenue growth has been considerably smaller, at eight per cent and 14 per cent respectively.