Overseas growth outpaces domestic sales for region’s mid-sized firms

Mid-sized businesses in the Midlands have boosted their international turnover by 68 per cent in the last five years, reporting faster growth overseas than in domestic markets – that’s according to new research by accountancy giant BDO.

The Midlands’ growth rate figure matches the national average but exceeds the overseas sales growth reported in other regions including the South East (59 per cent) and Yorkshire (51 per cent).

The research also looked at total sales growth across regional companies, analysing businesses in what BDO dubs the “Economic Engine” – companies in the £10-£300 million turnover bracket, AIM-listed companies and private equity-backed businesses.

In the East Midlands, of the 1,871 businesses analysed, overall sales increased by an average of 56 per cent in the last five years. Meanwhile, 3,059 businesses in the West Midlands saw overall turnover growth of 64 per cent in the same period. 

Across the UK, sectors which saw good international growth included consumer markets, manufacturing and healthcare.

Richard Rose, partner and head of BDO in the Midlands, said: “Businesses have been faced with economic and political uncertainty for the last five years but the dynamism and entrepreneurial mindset of the region’s mid-sized businesses – and the people who lead them – has resulted in some impressive international growth.

“This captures why we describe the mid-market as the economic engine – they are driving growth, wealth, employment and opportunity in ways that aren’t always noticed but are having a great impact. We work with these businesses to support their ambitions and help them succeed.”