Middle Market Companies Boosted U.S. Economic Health in Recent Years, According to New Research from American Express and Dun & Bradstreet

Middle market firms are outpacing their smaller and larger counterparts when it comes to growth in number of firms, employment, and revenue, according to the Middle Market Power Index from American Express (NYSE:AXP) and Dun & Bradstreet (NYSE:DNB). The seventh report in the Middle Market Power Index series analyzes the characteristics and economic impact of middle market enterprises—defined as businesses generating between $10 million and $1 billion in revenues—using Dun & Bradstreet’s proprietary database of commercially active¹ U.S. firms, over the past six years.

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(Graphic: Business Wire)

The latest report finds that middle market firms substantially improved the nation’s economic health between 2011 and 2017. While middle market companies account for less than 1% of all commercially-active firms, they experienced the greatest growth in overall numbers (83.9%), employment (103.3%) and revenue (99.9%) since 2011.

Currently, middle market firms employ more than one in four U.S. workers (27.2%) and are responsible for much of the job growth in recent years. Of the 51.8 million new jobs that were created since 2011, 26.8 million (or 51.7%) were created by middle market firms. Middle market firms also lead the way in revenue growth and account for more than one quarter (26.8%) of all revenue produced by U.S. businesses, equating to roughly $9.3 trillion.

“Although small in number, middle market companies pack a large economic punch,” said Brendan Walsh, Executive Vice President, American Express Global Commercial Payments. “What our Middle Market Power Index shows us is that economic growth does not always come from the most expected places. It’s not just the small startups and large multinational companies that are hiring the most people and leading the way in revenue growth, it is also mid-sized manufacturers and wholesalers in the heartland, which are becoming leaner and more globally competitive. Growth in these sectors, among other middle market industries, is what is really moving the needle for the American economy.”