Policy & the QCA
We believe in the power of well-functioning public equity markets and our policy work advances the ideas that underpin them. Supported by the insights of our seven Expert Groups, the QCA aims to effectively represent the interests of the UK’s 1000+ small and mid-sized quoted companies to government, regulators and the media. Proportionality is key: creating the environment so that all companies can thrive without being inhibited by excessive cost or complexity.
Why do small and mid-caps matter?
Small and mid-sized quoted companies – also known as “growth companies” – are a vital market sector in the UK:
- They employ over 2.1 million people and
- Contribute at least £25 billion in taxes – about 5% of the total UK tax take.
These businesses account for 91% of all companies on UK public equity markets by volume, but make up just 15% of the overall market capitalisation.
There is a vast difference in size between the largest 100 companies and the 1,100+ growth companies on the UK’s public equity markets.
Small and mid-sized quoted companies are often disproportionately impacted by rules and regulations as they lack the resources to influence and react to regulatory and policy change.
People employed by small and mid-cap quoted companies
Contribute at least £25 billion in taxes – about 5% of total UK tax take.
What we want
At the QCA we emphasise proportionality in policy making and thinking “small first” when creating new rules and regulations for business.
We want to promote a good business environment, with low regulatory burden, for small and mid-caps currently on public equity markets so that they can focus on growth.
We also want to promote healthy public markets that are viable financing channels for the growth companies of the future.
Our Expert Groups
Much of our output is driven by seven Expert Groups that focus on the latest policy ideas and good practice. Occasionally, working groups are established on subjects that cut across the activities of more than one Expert Group. They may also include participants drawn from the board and the wider QCA membership.
Accounting, Auditing & Financial Reporting
Our Accounting, Auditing and Financial Reporting Expert Group campaigns for proportionate reporting standards for small and mid-sized quoted companies.Learn more
Our Corporate Governance Expert Group works with boards, investors and regulators to promote high quality corporate governance by small and mid-sized quoted companies.Learn more
Our Primary Markets Expert Group acts as a dynamic forum composed solely of nominated advisers and brokers to discuss primary market issues with a view of influencing market practice, market structures and the regulatory framework to support firms advising small and mid-sized quoted companies.Learn more
Our Secondary Markets Expert Group deals with issues arising from the UK Government and regulators that affect secondary market issues to do with the trading and settlement of shares.Learn more
Our Share Schemes Expert Group examines all aspects of share scheme regulation to ensure that they remain cost effective and easy to implement for small and mid-sized quoted companies.Learn more
Our Tax Expert Group campaigns to introduce measures that encourage investment in the small and mid-sized quoted company sector and reduce the tax burden and the complexity of the tax system.Learn more
The QCA/YouGov Small and Mid-Cap Sentiment Index tracks the business sentiment of the small and mid-cap quoted company sector and key issues affecting small and mid-cap quoted companies, their advisors, investors and other market participants.
Started in 2011, the Index covers issues such as confidence in the UK economy, hiring intentions, turnover expectations, access to finance, corporate governance, fiscal incentives and more.