When many people think about the future of work, they look to the start-up scene for clues. Where they really should be focusing is the scale-ups. These are the companies that are creating jobs and shaping local economies and where many of us will be working in the future. And they require far more attention from our leaders than they're getting.
Although scaled-up middle-market firms with annual revenue between $10 million and $1 billion represent less than 1 percent of U.S. firms, they employ 28 percent of the private-sector workforce nationwide, according to research by Dun & Bradstreet and American Express.
The reality is similar in many developed economies around the globe. In Canada only 1 percent of companies reach the 100- to 499-employee mark, but they had the strongest revenue growth of all size businesses from 2001 to 2013, with a 43 percent uptick, according to the Business Development Bank of Canada.