Wisconsin is home to fewer women-owned and multicultural-owned middle market businesses than the national average, according to a new analysis by American Express and Dun & Bradstreet.
The study found that nationally, 6 percent of middle market firms are owned by women. In Wisconsin, 131 of the 3,037 middle market firms are women-owned, which is 4 percent.
According to the report, women-owned and women-led firms in the middle market category make up just 0.4 percent of all women-owned and women-led firms, but employ about 23 percent of workers and contribute about one-quarter of the revenues of all women-owned/women-led firms in the U.S.
And nationally, 5 percent of middle market firms are owned by multicultural individuals, but in Wisconsin, just 55, or 2 percent of middle market firms are multicultural-owned.
“An examination of the share of minority-owned middle market firms across the country finds, unsurprisingly, that more ethnically diverse states are home to a greater proportion of middle market minority-owned firms, while less diverse states have fewer minority-owned firms among their population of middle market enterprises,” the report said.
American Express and Dun & Bradstreet’s analysis, called the Middle Market Power Index: The Growing Economic Clout of Diverse Middle Market Firms, defines a middle market enterprise as a business with revenue of between $10 million and $1 billion.