The Edward Lowe Foundation focuses on growth-oriented second-stage entrepreneurs because we believe they have the greatest impact on U.S. prosperity. Having moved beyond the startup phase, these business owners have both the intent and capability for continued expansion. From a numbers perspective, second-stage businesses have about 10 to 99 employees and generate $1 million to $50 million in annual revenue.

Significant job creators, these companies only represented 18% of U.S. business establishments in 2023, but generated nearly 40% of all jobs, according to YourEconomy.org. Second-stagers often have national or international markets, which bring outside dollars into their communities. And many attract venture-capital dollars, raising investor awareness for a region.

Armed with greater experience and financial bandwidth than startups, second-stage companies are able to expand into new markets and introduce innovations that impact their industries. Their stability and deeper pockets also enable them to provide more diverse, high-quality jobs and better benefits for employees.

And in our experience, second-stagers  are devoted corporate citizens. Some have revitalized blighted areas by building new facilities or renovating existing ones. Others have a strong track record of philanthropy; whether they support social or environmental causes, they are determined to make a difference.