Economy Minister visits Germany to learn about the success of the Mittelstand

Economy Minister Simon Hamilton has travelled to Dusseldorf to learn more about the successful German Mittelstand.

Economy Minister visits Germany to learn about the success of the Mittelstand

The Mittelstand are a large group of small and medium sized enterprises which drive the success of the German economy and are characterised by innovation, exports and growth.

Speaking following a tour of Wickeder Westfalen Stahl, which manufactures cladding materials, Minister Hamilton said:  “Over the last two days I have had a tremendous insight into the hugely successful German Mittelstand. There is much for the Northern Ireland economy to learn from this model, at a time when the Executive is completely committed to the continued development of a strong, competitive, regionally balanced economy. Almost all German businesses are small to medium sized enterprises like Wickeder which employs more than 300 people. Around 95 per cent of those businesses are family owned. The Mittelstand is very important to the education and training system in Germany and has contributed to a higher skills economy. It also accounts for an estimated 52 per cent of the country’s economic output as well as generating  approximately €3 trillion in turnover annually.”

On the two day visit the Minister also met with representatives from the Dusseldorf Chamber of Commerce, the North-Rhine Westfalia Department for the Economy and the Federal Association for the German Mittelstand.

He said: “Germany is also the most successful exporter of all the G7 economies.  My meetings with the my counterpart in the Department for the Economy in North-Rhine Westfalia and with the  Dusseldorf Chamber of Commerce and the Federal Association for the German Mittelstand gave me an  opportunity to explore the cultural and structural reasons that support and promote business growth. 

Visiting companies like Wickeder and Remondis has allowed me to understand the qualities and characteristics that have contributed to their global success.

A lot of what I have seen and heard during this visit strikes a chord with my vision for an economy for the common good, that is absolutely constructed upon the foundations of more and better jobs, improved skills and a better economic infrastructure. 

Concluding the Minister said: “Transforming Northern Ireland into a globally competitive economy will require considerable effort on many fronts. Invest NI are currently working on  an ambitious Scaling Initiative for Northern Ireland businesses that are exhibiting high growth potential. In the weeks ahead I intend to outline how we hope to scale up more of our SMEs in terms of their turnover, employment levels and exports. This plan will draw directly on what I have learnt from the German Mittelstand.”

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