The Midmarket Institute, started in 2009, has launched a new website at www.midmarket.org exclusively devoted to serving the midmarket. The Institute has built the largest hub for the midmarket – for midsize companies to readily access content, business tools, communities of similar interests, events, expert advice and vendors. These companies are the key to the jobs recovery that everybody is seeking. They account for 31% of the American GDP and provide 34% of the jobs, but get little recognition or help for their special needs – until now.
Midsize companies are those with revenue between $10 million and $1 billion and 100 to 5,000 employees. They have been historically ignored by many suppliers, politicians, academics and the media. By building a large community with thousands of middle market companies, the Midmarket Institute seeks to benefit everyone in the sector –the companies themselves, their suppliers, advisors, capital providers, influencers and job seekers.
Don Huizenga, Chairman of the Midmarket Institute, the former head of the Midmarket CEO Council for The Conference Board and a 30 year veteran of the midmarket said, ”The Institute is focused on helping individual midmarket companies become more successful. Helping these companies succeed is critical to our economy and the jobs recovery.”
Ram V. Iyer, Founder & President of The Midmarket Institute said, “The midmarket is the engine of every economy. Midsize companies in the United States account for only about 3% of all the companies but provide a third of all jobs and generate a third of the revenues of all companies. Few people know this or realize the importance of the midmarket. These companies get little help for their unique challenges, drowned out by the influential large companies and the many small companies. Successful midmarket companies are good for our country.” You can find a presentation on the importance of the midmarket (The Midmarket – The Engine of Every Economy) at http://tinyurl.com/ca2octx.
The Midmarket Institute recognizes that every company is unique and has a unique combination of challenges and objectives. The website addresses the reality of ‘many midmarkets’ and is built to provide customized views and pointed help for each company essentially giving each company “Your midmarket, your way.” The Institute has assembled a vast Knowledge Center including a repository of articles, podcasts, PowerPoint presentations, videos, tools, templates, checklists, provider directories and other material addressing midmarket business challenges. Everything in the Knowledge Center is tagged to the specific challenges of midsize companies. Here is a sampling of typical business challenges confronting midsize businesses:
- limited market opportunities because of their limited scope (of products/services) and scale;
- difficulty getting credit because they are too big to rely on personal net worth and too small to have a robust balance sheet;
- limited negotiating leverage with suppliers;
- competition from large companies;
- reliance on few customers for bulk of revenues; and,
- limited resources for market expansion.
Midmarket executives who visit the Institute web site can identify their top challenges when they join. Each member gets their own page to track and get help with their specific challenges. This single page gives them a view of content, tools, experts, events, communities of interest and vendor solutions for each of their challenges. As new solutions are added for their challenges, they are alerted right away.
Mr. Huizenga stated, “I am excited about what we have put together at www.midmarket.org and the many new cutting edge features we will be rolling out over the next few months. I am looking forward to the launch of the first marketplace for the midmarket that will be launched at www.midmarketworld.com in a few weeks. These websites along with other activities of the Institute and members of the midmarket community will help make the midmarket more successful.”