Described as the driving force of the global economy, the mid-market holds a vital role in the business ecosystem, connecting and serving organisations across the globe.
Our latest Grant Thornton International Business Report (IBR) explores the significance of this role, highlighting the progress and actions of the mid-market on their journey towards a sustainable future.
Read more on why the world needs a sustainable mid-market, and how its vital to economies, societies and the planet.
Key insights
Green fuel for sustainable businesses
The mid-market is being pulled by the commercial opportunities presented by sustainability. Consumers want to support brands with strong credentials, while investors are increasingly conscious of the long-term value it can provide. More than just a buzzword, our graphic highlights the most important factors encouraging the mid-market to focus on sustainability.
Our report explores how, despite being pulled by brand reputation and market competition, firms are being pushed by the regulatory environment.
Head winds for ESG
Given the importance of the mid-market to global sustainability, it's key we understand the obstacles the mid-market face on their journey towards a sustainable future. Globally the mid-market identifies four key barriers to successfully developing ESG initiatives, with cost the most pressing for businesses.
Yet despite the pull of commercial opportunity, concerns around regulation occupy the mid-market. We examine some of these concerns, and the key issues that stand out.
Plotting a sustainable course
Mid-market firms undertake many different combinations of actions on sustainability, as shown in our proposed sustainability cycle. With each cycle fueling subsequent cycles, forming a complex and interconnected journey towards a sustainable future as time goes on.
Our report uncovers where the mid-market has taken the first steps, and how there is still a way to go.
What's next on the sustainability journey?
Momentum on the journey to a sustainable future within the mid-market is building. Critical to this, is the role the mid-market plays in international business. However heightened regulations can be considered a barrier to international business expansion, with a significant proportion of mid-market firms in North America (87%) and Europe (68%) viewing it as a concern.
Given regulation will only increase, we explore how firms can reconsider this to be an advantage.
What we recommend
Take action sooner rather than later when it comes to reporting requirements.
Acting now will give you time to build up your knowledge and processes.
Being sustainable can offer a competitive advantage for mid-market firms who get it right.
Increasing your brand reputation helps drive business and investment.
Speaking to an adviser can help simplify the process and plot the right course.
Our job is to understand new requirements and help you navigate them.
Larger companies need to work with their mid-market partners.
Sharing expertise from navigating regulation can reduce risk and improve efficiency.
The sustainability journey is not a sprint.
It could take years to perfect a strategy, but the most important action is to take the first step.
To establish where you are and to find out where you need to go next on your sustainability journey, contact us.
