Insights into the Middle Market

Croixstone is laser focused on providing expertise to serve the middle market, defined as those companies with annual revenues between $10 million and $1 billion.  The National Center for the Middle Market recently published new data and insights on this important sector of the economy that we found interesting.

  • While representing barely 3% of all U.S. businesses, the middle market is responsible for 1/3 of private sector GDP and employment.
  • If the U.S. middle market were its own country, it would be the fifth-largest economy in the world.
  • During the pre-pandemic era from 2012-2019, average revenue growth for midsize companies was 6.5% and average employment growth was 4.3%.
  • A Q4 2020 middle market survey showed that average revenue declined by 1.2% and employment dropped by 2.2% over the prior 12 months.
  • While the pandemic negatively impacted the middle market, the sector overall performed better than small businesses and large corporations.
  • Middle market companies are typically very resilient, however, the ongoing pandemic presents a serious challenge on how to maintain customer engagement and connectivity. 

Learn more here.


The Rise of the PORTFOLIO Career

Much like COVID-19 has accelerated the pace of digital transformation, future of work experts are seeing a rise in the pervasiveness of professionals with “portfolio careers.”

Ben Legg is an engineer, serial CEO of global digital businesses, former COO of Google Europe, and former McKinsey consultant.  He believes the portfolio career is a continuation of the automation of work and is here to stay. 

Croixstone’s business model is built around our deep understanding of the portfolio professional.  So what is a portfolio career? 

  • A portfolio career isn’t reliant on a single source of income.
  • Income is derived from serving multiple clients that might include project work, consulting engagements, interim roles and/or board roles.
  • Unlike a “gig economy worker,” a portfolio career is thoughtfully put together and is focused on offering differentiated services in order to maximize earnings.

Learn more about portfolio career insights from Ben Legg.