Eleven percent of Louisiana’s “middle-market” companies have been in business less than 10 years, and the fastest-growing segment among those firms is business services.
The findings are part of American Express and Dun & Bradstreet’s Middle Market Power Index: Exploring Generational Changes in Middle Market Industries.
The report defines middle-market companies as those with annual revenue between $10 million and $1 billion. Louisiana falls in line with the national average, where 11 percent of middle-market companies are less than 10 years old.
Business services includes public relations and advertising, management consulting, legal services, landscape/architecture services and interior design.
Louisiana is slightly above the national average for middle-market firms that have been in business 50 years or longer. The national average is 30 percent. In Louisiana it’s 31 percent.