New study explore the opportunities and challenges faced by diverse-owned businesses across the middle market
Published in November 2023, JPMorgan Chase in collaboration with Next Street developed “The Middle Matters” research report to provide insights into the midsize businesses that power our economy.
Why the Middle Market Matters
The research reveals that while midsize businesses are generating significant revenue nationally and locally, they, like other businesses, are challenged by increasing competition, slowing revenue growth, and an uncertain economy. What’s more, the report highlights that diverse-owned midsize businesses lack adequate financial resources to support their growth. Along with highlighting these issues, the report also points to potential solutions including broadening access to tailored funding and business guidance. Additionally, while the report looks at the middle market from a national perspective, we focus on three of the largest markets: Chicago, Dallas, and Los Angeles.
According to the report:
- There are approximately 300,000 midsize businesses across the country that generate $13 trillion in annual revenues and employ more than 40 million people.
- These businesses account for 33% of revenue generated and 30% of all private sector employment in the country, despite representing only 5% of the total number of national employer businesses.
- Diverse-owned businesses represent roughly 30% of the middle market, but only generate an approximate 20% of the total market revenue.
To access the full report, please complete the download form.
