"The middle of the road is for yellow lines and dead armadillos." - Former Texas Agriculture Commissioner, Jim Hightower
Mr. Hightower's famous observation may be true for political candidates, but the middle has been marvelous for American business. Or at least the Great Recession hasn't been as bad for middle market companies as it has for big business and small business. Everybody has his or her own definition of the "middle market," but the National Centre for the Middle Market at Ohio State University defines the middle market as companies with annual revenues between $10 million and $1 billion. As reported by The Economist, the middle market employs over 40 million people in the US and makes up 1/3 of the private sector GDP. From 2007 to 2010, middle market companies added 2.2 million new jobs while big companies lost 3.7 million jobs and only 57% of small businesses survived.
As the second of three kids in my family growing up, I've always believed the middle was marvelous. Now we have proof!
Post a Comment