companies (ranging from a low of 1.2% in Germany to 1.7% in France) and yet it generates about one third of private sector revenue and employs about a third of each country's workforce. Combined, the middle market in the four European countries contributes €1.11 trillion ($1.48 trillion) to the EU-4 GDP. This makes the middle market in the EU-4 one of the top 10 economies in the world, ahead of India and Russia. In the study, Professor Ashwin Malshe of ESSEC defined the middle market differently for each country. For example, Italy has 3.7 million firms with revenue of less than€5 million, while Germany has only 1.7 million companies this size this means that applying a single European or global definition of a mid-market firm is difficult. In the UK, mid-market firms are those with between £15m and £800m of annual revenues. The average UK middle market firm has revenue of £78 million (€98 million) and employs 500 people, similar in size to its German counterparts but larger than the typical mid-market firm in France or Italy. Middle-market organizations Entities have evolved to serve businesses in the middle market, including for-profit and institutions of higher learning. In the latter category, the Graziadio School of Private Capital Markets at Pepperdine University produces quarterly and annual data on the middle market via their Private Capital Markets Project. Other entities include the Association for Corporate Growth (ACG), which provides a global community for mergers, acquisitions, and corporate growth professionals. ACG's stated objective is to drive middle-market growth. ACG publishes Middle Market Growth online. International alliances such as Alliott Group bring together independent local practices that offer professional services (accounting, tax and legal) to middle market companies targeting growth through expansion to the international marketplace. Investment banks See also Free float List of finance topics List of corporations by market capitalization Market capitalization References External links Mid-Market Companies Predict Revenue, Hiring And Capital Spending Will Rise Next Year As Economy Improves: KPMG Survey Deloitte says mid-market companies are using new technology to great advantage Types of business entity