Mid-size firms boom in London

MEDIUM-sized firms in London punched above their weight during the past three years, contributing a disproportionate amount to the capital’s economy over a bleak period, according to new research.

A Confederation of British Industry (CBI) report this morning said companies employing between 50 and 499 people offset 86 per cent of public sector job losses in the capital, between March 2010 and March 2013.

There are eight per cent more jobs in mid-sized firms today than there were three years ago, compared to a five per cent increase in larger businesses. Though they make up only 1.8 per cent of firms in London, they account for over a fifth of jobs.