Medium sized companies key to job creation, says CBI

The Confederation of British Industry (CBI) has urged the next government to help medium-sized businesses to gain access to funding.

Finding large investors through a private placement market, without having to list on a stock exchange, is the CBI’s recommendation to allow SMEs to grow.

CBI Director-General, John Cridland, said: ‘The UK is still missing a trick on long-term growth capital. The next government needs to mind the financial gap otherwise our medium-sized firms – the job creating dynamos of the economy – will suffer.

‘If firms can’t get the trade finance they need to explore new markets, the UK has no way of meeting its ambitious exports target of £1 trillion by 2020.’

He conceded that robust regulations are necessary to prevent money laundering, but can be ‘cumbersome’ for businesses looking to grow.

The CBI pre-election policy wishlist also includes more investment in roads, railway and energy infrastructure projects, in accordance with the Government’s National Infrastructure Plan to invest £375 billion.