Mid-sized business missing out, says Grant Thornton

According to the firm, despite the presence and contribution of 54,000 mid-sized businesses within the Australian economy, there is a vast under-representation when it comes to national debate.

The firm said that while innovation and growth incentives are offered to small business, their mid-sized counterparts are "left cap in hand, swimming in red tape and with little support for growth".

“We’re once again calling for a minister for mid-sized business to create a simpler life for the engine room of the economy: mid-sized business,” said Greg Keith, Grant Thornton CEO.

In the lead up to the budget, Grant Thornton has urged the government to invest in Australia's mid-sized innovators, support access to new markets, and deliver a clearer tax system that effectively promotes growth.

“With a combined annual turnover of around $1.1 trillion, if Australia’s mid-sized businesses were a state, their economy would be larger than Queensland. The time is now to support their growth,” said Mr Keith.

“A minister for mid-sized business will unlock growth potential for Australia’s largest sector of the economy. They’re the most likely to succeed and deliver even more than they already do to national growth."