‘How small- and mid-cap quoted companies make a substantial contribution to markets, employment and tax revenues’

Hardman & Co

Hardman & Co Report Report DownloadsPoliticians and business leaders often refer to small and mid-size quoted companies (SMQCs) as being pivotal to the future of the British economy. But the definition of “small and mid-size” can cover a huge range of companies, and the difference between the UK’s largest companies and the rest is stark, as we present in this paper.
In particular, we examine the companies quoted on the UK’s public equity markets to highlight the difference in size between the largest 100 companies and the rest.
We also present data that show the massive contribution that SMQC make to our society and to the stock market.

In particular, we note the following for SMQCs.

► They represent 93% of all the companies quoted on the London Stock Exchange (LSE) by number (when investment companies and certain other categories are excluded – see ‘Our sample’ for more detail).

► They collectively have a market capitalisation of £428bn by value, representing 20% of the total market capitalisation of the LSE (with the same exclusions) .

► They employ over 3 million workers.

► They account for a substantial proportion of the workforce of all quoted companies in many regions of the UK.

► They contributed at least £26.5bn in taxes in 2017/18, we estimate, considering just Corporation Tax, Income Tax and National Insurance (NI), and ignoring VAT and Business Rates.

Share on:
Find more news, interviews, share price & company profile here for:

    HUTCHMED showcases new oncology data at ASCO 2025

    HUTCHMED (China) Limited is set to unveil groundbreaking data on key cancer therapies at the 2025 ASCO Annual Meeting, highlighting promising advancements in NSCLC and solid tumors.

    Ilika launches £3.8m fundraise including £0.5m Retail Offer

    Ilika Plc has successfully closed its accelerated bookbuild, raising approximately £3.3 million to enhance solid-state battery technology and commercial growth.

    Nuformix raises £210,000 to advance NXP002 and US Orphan Drug Application

    Nuformix plc (LON:NFX) aims to raise £210,000 through a conditional placing to advance its NXP002 inhalation treatment for IPF and PPF.

    Likewise grants over 3.1m shares under 2025 SAYE scheme

    Likewise Group plc (LON:LIKE) has successfully closed its 2025 Save As You Earn Scheme, granting options to 69 employees on over 3.1 million shares.

    Zotefoams reports record £50.7m revenue in strong start to 2025

    Zotefoams Plc reports strong sales growth of 8% and record revenue for the first four months of 2025, showcasing a successful strategic pivot into key markets.

    Ilika announces £3.5m fundraise via Placing and Retail Offer

    Ilika Plc, a leader in solid-state battery technology, plans to raise approximately £3.0 million through a new share placing and a retail offer for shareholders.

      Search

      Search