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Europe’s mid-size businesses call on legislators to accommodate their needs

Majority of mid-market suffers from “middle child syndrome”

Ricoh UK, London, 17 October 2016 – Europe’s mid-sized businesses (MSBs) are calling for more government and lender support as 70 per cent believe they suffer “middle child syndrome”. This is according to new research commissioned by Ricoh.

Not only do MSBs feel cut-off from the provisions made for start-ups and small businesses, many lack the capabilities of large enterprises to cope with complex and costly regulation. To compete effectively, 76 per cent of MSBs want legislators to create a landscape where they can drive their growth agenda, subsequently resulting in a stronger European economy.

The research found 67 per cent of MSBs struggle to compete with new market entrants and large enterprise organisations. And 71 per cent say they face greater risk of failure due to difficultly in accessing finance.

“With 75% of businesses surveyed in the UK and Ireland specifically, looking to expand into other sectors in the next two years, it becomes clear that the MSBs in these regions are full of energy, both in terms of growth and ambition,” said Phil Keoghan, CEO Ricoh UK & Ireland. “In order to achieve their full potential a robust investment in new technology will be required. We need to power mid-size businesses into the digital economy so that they are able to lead the way and expand.”
The research reveals that MSBs have a range of priorities for the next two years. The top three are launching new products or services (30 per cent), managing growth (28 per cent) and the use of innovative technology (28 per cent).
Keoghan added: “The chancellor of the exchequer’s recent announcement on a support package for businesses which includes £220m to help boost the UK’s technology sector, shows that the need to promote growth and innovation across the UK has not gone unnoticed. To be a global leader and remain competitive with established emerging economies, it is essential that the government keeps providing its support to businesses drawing especially upon their most challenging barriers.”
Note: Definition used for this research of a mid-sized business is a business with between 50-500 employees and revenue between £2.5million and £100million.
1 Figure for number of mid-sized businesses in Europe provided by M-Institute, July 2016

|About Ricoh|

Ricoh is a global technology company that has been transforming the way people work for more than 80 years. Under its corporate tagline – imagine. change. – Ricoh continues to empower companies and individuals with services and technologies that inspire innovation, enhance sustainability and boost business growth. These include document management systems, IT services, production print solutions, visual communications systems, digital cameras, and industrial systems. 

Headquartered in Tokyo, Ricoh Group operates in approximately 200 countries and regions. In the financial year ending March 2016, Ricoh Group had worldwide sales of 2,209 billion yen (approx. 19.6 billion USD). 

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