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Midsize businesses are critical to the U.S. economy, accounting for 33% of annual business revenues and 30% of all private sector employment. Diverse-owned midsize businesses—defined as those at least 51% owned and operated by members of historically underrepresented groups (including Black, Hispanic and Latino, Asian, and other people of color; women; and veterans)—comprise approximately 30% of the middle market. Yet they account for only about 20% of the revenue. 

New research from Next Street, in collaboration with JPMorgan Chase, reveals that closing the revenue gap for U.S. diverse-owned midsize businesses presents an opportunity to generate $1.3T in additional annual revenue.

Missing in the middle

Despite significant revenue generation, the research shows that midsize businesses aren’t reaching their potential due to a variety of factors, including a lack of tailored resources. In particular, diverse-owned businesses face challenges accessing tools and information to support growth.

Key findings from the report, The Middle Matters: Exploring the Diverse Middle Market Business Landscape, are summarized in the infographic below. 

Next Street Research National Infographic





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