GAP ‘Hidden Giants’ Summit report released

| October 25, 2017

I am excited to launch the final report from Global Access Partners 8th Annual Economic Summit focusing on the importance of the midsize business sector to Australia’s economy.

GAP has been championing the mid-market for the last twenty years, and the Summit on 7-8 September brought together 123 delegates who share a common interest in seeing the midsize business sector thrive in this country.

As a group, we are committed to highlighting what we call the “hidden giants” of the Australian economy – those companies that employ between 20-199 staff and turn over $10 million – $250 million in annual revenue.

Our international guest speaker, Mr Albrecht von der Hagen, the Chairman of the Management Board of the Association of Family-Owned Businesses, offered a global perspective on the growth of the midsize business sector, with a focus on Germany, where the Mittelstand is a major contributor to the success of the national economy.

Day two of the Summit saw thought leaders from the highest levels of government, business and academia challenging our thinking to help us to better understand the sector’s different moving parts.

While this report summarises the discussions that took place in the Legislative Assembly Chamber of NSW Parliament House, its main purpose is to steer interested participants towards clear action.

The recommendations are significant – past GAP Summits have resulted in real economic impact, including the establishment of commercial businesses, policy implementation, strategy development and research projects. The 2016 Summit on Spaces for Australian Innovation established the Australian Space Initiative, which last month submitted to government a novel model for a national space agency.

With your help, we anticipate that delivery of the recommendations outlined in this report would see significant growth in the midsize business sector, leading to a healthier and more resilient Australian economy.

I am looking forward to being involved with as many of you as possible in moving the 2017 Summit recommendations from ideas to reality.