Focus on unlocking future growth for sector at a crossroads.
GE Capital and the Australian Graduate School of Management (AGSM) at UNSW have announced the Australian Mid-Market Growth Alliance aimed at helping mid-market business overcome barriers to growth.
This important sector of the economy makes up just 1.4 per cent of Australian businesses, yet it contributes close to $425 billion of Australian business revenue and employs nearly 3.2 million full time employees.
GE Capital and AGSM will directly support this under-recognised sector of the Australian economy, delivering research, events, scholarships, specialised education products and a consortium aimed at providing solutions for major issues identified by the mid-market.
GE Capital Australia & New Zealand CEO, Skander Malcolm, said the partnership with AGSM marked another important step in understanding the sector's specific challenges including skills shortages, productivity challenges and global and regional economic uncertainty.
"We are excited to add the next step in helping the mid-market to grow. This sector is a significant contributor to the economy, making it extremely important to Australia, and we are committed to delivering solutions to actively facilitate its growth. This partnership will help achieve that."
UNSW Vice-Chancellor, Professor Fred Hilmer, said he was excited to be partnering with GE Capital with a focus on this critical sector of the Australian economy.
"This is the first time mid-market tailored scholarships will be on offer specifically aimed at the areas of women in leadership, social media and innovation. We are looking forward to engaging directly with a cohort of Australian mid-market business leaders on solving their current challenges."
David MacLaughlin CFO, Bisalloy Steel Group Limited, said the alliance provided a new avenue for mid-market companies seeking solutions for key business challenges.
"In the current climate, our sector is at a serious crossroads around how to grow revenue and manage costs, and I look forward to taking advantage of the opportunities offered by the partnership program to identify tangible solutions."
GE Capital also revealed:
- Despite some recent declines, the mid-market remains the most resilient business sector.
- The signs of recovery among the mid-market evident last quarter appear to have been short lived, and the declines have continued in September 2012
- With increasing concerns and uncertainty around general economic conditions, the mid-market is focused on their fundamentals - revenues and cash flow.
- Further declines may be expected in coming months given current expectations are pessimistic.
- Concerns about the economic environment continues to grow in the September 12 quarter, while growing revenue and managing costs also continued to be areas of worry.
- Government regulations also appeared to be a growing area of unease this quarter.
For further information:
Media contact
Louisa Walsh
GE Capital
Australia & New Zealand
(w) +61 3 9921 6725
(m) +61 404 099 246
(e) [email protected]
Media contact
Alison Avery
Australian Graduate School of
Management (AGSM)
(w) +61 2 9385 9301
(m) +61 411 281 184
(e) [email protected]
Louisa Walsh
GE Capital Australia and New Zealand
[email protected]
+61-(0)-3-9921-6725
+61-(0)-404-099-246