First 5000 celebrates 10 years supporting the mid market 

| October 20, 2020

Mid sized businesses continue to be our most precious resource and today we celebrate 10 years of supporting the market with thought leadership and ideas.

On 20 October 2010, First 5000 was formally launched at NSW Parliament House before a select audience of First 5000 partners, members and journalists.

Since then we have reached an audience in excess of 100,000 people. We have given a voice to over 450 authors across 3000 pieces of content.

Today, First 5000 remains as relevant and important as when it was first conceived as an idea by Peter Fritz back in 1994 when he was Chairman of the Small Business Council of Australia.

Despite their own unique characteristics, which has been squeezed between the two extremes – small business and large companies – mid sized businesses continue to be overlooked in the policy debate.

They do not receive the support they require to grow, from stakeholders including governments and regulators. Growth and innovation in the sector remains hampered by a lack of skilled workers and access to investment, as well as cost of business development, and there is no long-term national approach to facilitate growth and innovation in the sector.

Around 90 per cent of larger, family-owned medium businesses lack some of the competitive features they need to grow, such as effective marketing, internal strategic analysis, modern IT, and a culture of resilience in changing market conditions.

This not only inhibits their chances of future growth, but may endanger their actual survival.

We vow to continue to help facilitate engagement between Australian mid-sized firms and offer a place to nurture debate, understanding and support.

Thank you all to our contributors and supporters over the last 10 years.

Happy Birthday First 5000.