According to an article on Inside Supply Management, “Recent research into middle-market companies, those with annual revenue between US$10 million and $1 billion, finds they are the growth engines in today’s economy.”
Another interesting statistic from the article? If the nearly 200,000 U.S. middle-market companies were their own country, that country would be the fourth largest economy in the world, behind Japan and ahead of Germany.
As middle-market companies continue to grow and shine in our economy, the Ohio State University’s Fisher College of Business has created the National Center for Middle Market (NCMM). The goal of NCMM is to “research, analyze, and map the middle market to help companies better understand how and where to expand, and draw a blueprint for sustainable growth.”
So, why the increased focus on the middle-market? Well, one reason the center was established last year was the “lack of attention paid to mid-market companies, which represent one-third of American jobs and more than $9 trillion in annual revenue.”
Middle-market companies should not be “stuck” in the middle anymore – these companies having positive impacts on the global supply chain and making innovation happen. According to the article, here are five trends from middle-market companies today:
- Supply Management Creativity
- Finding Innovative Solutions
- Using Size as an Advantage
- Finding the Right Supplier
- Putting Agility to the Test
What additional trends are you seeing middle-market companies exhibit?
In the meantime, click here to read the complete article from Inside Supply Management, which expands on each of these five trends in more detail.