Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.


Term of the day


“Mittelstand”: can be used to describe an individual organisation or a type of specialist SME.  It is essentially a family business, has a strong stakeholder commitment, and a focused product-service, usually in industrial sector niches, involvement.  It is also identified by the term “Micro-Multinational” reflecting its focused interests and extensive international reach.

The term Mittelstand (strong specialist small enterprise) was coined in Germany and describes companies with 50 to 500...