According to the report The Middle Market Power Index: Economic Might of Middle Market Firms, “Exporting is also increasingly important to middle market firms. While only 6.9% of middle market firms currently export, this number has grown steadily in recent years. The number of middle market companies that export their goods or services has quadrupled during the past six years, surging from 2,766 in 2011 to more than 12,341 in 2017.”
Middle market is defined as firms that have between $10 million and $999 million in revenue.
Middle market firms are increasingly owned by women. The number of women-owned middle market firms has jumped 119.6% from 2011 to 2017, and the total share of women- owned middle market businesses has increased from 6.0% in 2011 to 7.2% in 2017. Middle market firms are also more likely than average to be women-owned enterprises (7.2%) than companies overall (6.5%). As we look toward the future, small businesses that are on the cusp of crossing the middle market threshold − those with between $1 million and $10 million in annual revenues − are even more likely to be women-owned (10.1%).
KEY FINDING: The number of middle market exporters is increasing rapidly and the number of minority- and women-owned businesses across the U.S. also is on the rise.
Read the report to learn how middle market firms are growing smart and growing globally.
Join us for our next WEGGinar™ 7/11/18 on “Intro to Cloud Computing and How It Can Benefit You,” presented by Jayger McGough Tomasino and Carly Kizorek, Technical Evangelists at IBM. They will give you the scoop on cloud computing, convey how SMEs use it to grow, and even show a demo of IBM Watson services. Register here.
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