MBN USA

July 16, 2024

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The 2024 Insights and Perspectives from Black Leaders in the Middle Market study is now available

Overall, the U.S. middle market is a historically overlooked yet incredibly powerful segment of the economy. While the National Center for the Middle Market (NCMM) has made great strides over the past decade in shedding light on its importance and outsized contributions, Black-owned middle market companies remain somewhat of an enigma.

Wells Fargo & Co. and NCMM recently released its "2024 Insights and Perspectives from Black Leaders in the Middle Market." The research team conducted 60-minute Zoom interviews with 13 Black middle-market business owners and leaders. Respondents are responsible for strategic decision-making in organizations spanning different industries, including construction, logistics, financial services, and information technology. The companies in the survey ranged in size from $20 million to $500 million in annual revenues. Talking directly with these Black middle-market business leaders helped me better understand the dynamics of Black-owned middle-market businesses in the United States, including specific drivers of success and factors that hinder success as companies grow to a specific size and become midsize businesses. 

Download the Wells Fargo/NCMM report to learn about its four critical findings, aimed at educating middle-market stakeholders on the Black-owned business story. These insights can help industry partners and service providers better support Black-owned middle-market businesses and help define a road map for tapping this segment's full potential to contribute to and shape the middle market’s continued prosperity and success.