In today's episode of the Metrics that Measure Up podcast, Thomas Stewart, Executive Director for the National Center for the Middle Market shares some very interesting insights into the 200,000 companies that represent 1/3 of the American economy.
Highlights included that 85% of Mid-market companies are private, 33% are family owned and 17% are in the manufacturing industry. On average, middle-market companies grow an average of 6.5% per year, 3% faster than the average S&P 500 company.
Middle Market companies that view Digital Transformation as strategic and are advanced in adoption grow at an average of 9.5%, almost 50% faster than their peers.
Lastly, middle-market companies buy technology very differently than larger, Enterprise companies. They typically will not pilot or test innovation, they will watch...watch....watch and then jump in headfirst. Definitely not your early adopter persona.
A great listen for anyone responsible for doing business in the middle market - or just wants to learn more about the middle market.