On Bauer Business Focus — A conversation on mid-size businesses with Houston Public Media News 88.7 Business Reporter Andrew Schneider.
Milton Frankfort, senior consultant and co-founder of UHY and a member of the Bauer College Board, recently stopped by Bauer Business Focus to discuss the status of mid-size business in Houston.
The Bureau of Labor Statistics defines the middle market as companies’ annual gross revenue being in the range of 10 million to a billion. Companies below 10 million are typically below the middle market, but there are grey areas at each end of the scale, Frankfort said.
Nationally, the middle market represents three percent of U.S. companies, generates a third of the private sector gross domestic product and creates 70 percent of all new jobs in the past year. Frankfort described this as a stunning statistic.
“That segment of the business economy is enjoying tremendous growth right now and new formation,” Frankfort added. “After unemployment people had to seek alternative methods of providing sustenance for their families and they started businesses. Some of the entrepreneurs that started business are really pretty talented at it and so they’ve created companies that have moved into the middle market.”
Click here to hear the full interview.