The Detroit Regional Chamber has formed the Middle Market Council, aimed at providing research, resources, and events to middle market businesses in metro Detroit, which accounts for about 30 percent of employment in the region.
“Even with (Detroit’s) momentum, there’s so much more room to grow in the middle market,” says Tammy Carnrike, COO of the Detroit Regional Chamber, a partner in the venture along with the National Center for the Middle Market. “This partnership will help mid-size job creators navigate the unique challenges they face and help unlock their full potential.”
Carnrike says the partnership combines the National Center for the Middle Market’s research and education tools with the chamber’s events and network. She says the resources are designed to help middle market executives retain and attract talent, navigate government regulations, manage and increase capital, and accelerate business growth.
Long term, the Middle Market Council will host annual forums featuring national leaders, peer networking opportunities, and a summit. The council will also offer quarterly data reports on national trends executives can use to make business decisions.
“Too often all the attention goes to the startup or the Fortune 500 corporations,” says Thomas Stewart, executive director of the National Center for the Middle Market. “While those businesses are important, the fastest growth comes from the middle market. Regions that are serious about creating jobs, increasing GDP, and improving their economic outlook must have a middle market strategy.”
Stewart says nationally, the U.S. middle market generated more than $10 trillion in annual revenue and 60 percent of all new jobs in 2014.
For more information on the Middle Market Council, click here. â€‹
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