Middle market companies account for more than half of national job growth
Middle market companies are fueling economic growth, according to new research from American Express and Dun & Bradstreet
The latest "Middle Market Power Index" by American Express and Dun & Bradstreet found that while the total number of commercially active firms has declined since 2011, the number of middle market firms — and their revenues and employment — have doubled.
(Middle market firms are defined as those with between $10 million and $1 billion in revenues.)
Middle market firms now contribute $9.3 trillion to the U.S. economy and account for more than half (53%) of total national job growth. While these firms make up less than 1% of all U.S. businesses (0.96%), they contribute one in four dollars (26%) and employ one in four workers (27%) in the private sector.
Florida ranks 39 out of all 50 states and the District of Columbia for growth in number of middle market firms from 2011-2016.
|Number of Firms|
|Small ‹ $10M||Middle Market $10M-$999M||Large ($1B+)||Total|
|Share of Firms|
|Small ‹ $10M||Middle Market $10M-$999M||Large ($1B+)|
|% Chg in # Middle Market Firms, 2011-2016|
"Over the last five years, middle market companies have led the way in economic growth," said Brendan Walsh, Executive Vice President, U.S., American Express Global Commercial Payments. "This report highlights the often overlooked economic might of these companies, which contribute over $9.3 trillion to the U.S. economy and are growing faster than any other sector."
"Middle market firms continue to have an outsized influence on the U.S. economy," said Jeff Stibel, Vice Chairman of Dun & Bradstreet. "These firms have led the charge hiring Americans and now employ nearly 53 million people. The middle market plays a pivotal role in our rapidly changing economy."
About Dun & Bradstreet
Dun & Bradstreet (NYSE: DNB) grows the most valuable relationships in business. By uncovering truth and meaning from data, we connect customers with the prospects, suppliers, clients and partners that matter most, and have since 1841. Nearly ninety percent of the Fortune 500, and companies of every size around the world, rely on our data, insights and analytics. For more about Dun & Bradstreet, visit DNB.com.
About American Express Global Commercial Payments
Through its Global Commercial Payments division, American Express offers a suite of payment and lending products that help businesses and organizations of all sizes gain financial savings, control and efficiency. Global Commercial Payments provides solutions for travel and everyday business spending, cross border payments, global currency solutions, and business financing. To learn more about Global Commercial Payments visit business.americanexpress.com.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.