Quick — when you think of companies that drive the engine of our economy forward, which come to mind? Apple? Google?
Like we’ve said before, it may feel like big companies are behind the wheel, but small and medium-sized companies are pulling more than their weight when it comes to hiring and growing the economy, and they have been for some time.
Almost every new job created since 1977 has been created by a startup. Middle-market companies, in particular, have been doing well recently. One study shows middle market growth outpacing the S&P 500 almost every quarter for the past six years. Now that’s HUGE.
Presently, it’s an exciting season for business owners. Under the current administration, taxes on corporations have been slashed and regulations on businesses are being rolled back — all of this could mean big growth.
Will that continue to be the case? In this brave new political world, we’ve see economic policies shifting for the past two years, but recent midterm elections could make the pendulum swing along a different axis entirely.