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MSP 501: Woman-Owned Companies Top the List, Deliver Impressive Results
The top 10 woman-owned MSPs were among the top third of the MSP 501 ranking
Channel Futures Staff
October 6, 2023
36 Slides
Jacob Lund/Shutterstock
Woman-owned businesses made up just over 7% of the 2023 Channel Futures MSP 501 ranking of the world’s top ranking managed services providers. While the percentage is much lower than the 20% of woman-owned businesses of all companies that employed people in the U.S., it’s still an impressive group.
The top 10 woman-owned MSPs were among the top third of the MSP 501 ranking, with two, AKATI Sekurity and Sequentur coming in at 12 and 13 respectively. Revenue growth for the top 10 in 2022, the year the survey covered, was 20%, recurring revenue growth was 37% and an average EDITDA growth came in at 36%.
Across the U.S. in 2018, the last year the Small Business Administration compiled the numbers, women owned 12 million businesses. The number includes 207,436 “technical, professional and scientific services” business. That’s as granular as the tech segment gets, but it’s the second largest category behind the health care and social assistance category, which accounts for 215,779 woman-owned businesses. The number of woman-owned businesses in the U.S. did grow by 6,861 between 2017 and 2018, according to the U.S. Census Bureau. We hope to see comparable growth in Channel Futures’ 2024 MSP 501 ranking.
Whatever classification of managed services provider you run, make sure to apply for the MSP 501 ranking when the applications become available early next year. As part of the application process and analysis, we ask channel partners of all business types to provide detailed information on their technology solutions and customer engagements. This data gives our research team the ability to develop benchmarks in a wide range of areas such as cloud, cybersecurity, growth rates and profitability, among others.
Key Statistics
Until then, here are some of the key statistics for the woman-owned MSP 501ers.
Out of the 36 woman-owned MSP 501ers, 28 described their companies as managed service providers, three as managed security services providers, three as cloud services providers, one as a VAR/solution provider and one as a consultant.
All of them offered managed security and network security solutions, with more than 95% of them offering endpoint security, end-user security training, enhanced network monitoring, identity access management, intrusion protection, MDR, vulnerability management, SaaS/Cloud backup and restoration.
About 30% said managed security, including all related applications, followed very closely by help desk/service desk, drove the most revenue.
87% expected managed services to be their biggest growth area this year, with help desk/service desk coming in next, just shy of 50%
41% provided managed compliance services.
About 98% provided business continuity solutions, help desk/service desk and IaaS.
9 offered IoT solutions.
7 offered data analytics services.
They managed an average of 144 customer accounts, about the same as 2021, and an average of 5,549 end users, up from 4,605 in 2021
Monthly per-user rates averaged $118
Hourly technician service rates averaged $145, average professional services $167, average specialty services $194
Average full-time staff in 2022 was 53, about the same as in 2021. They employed an average of seven dedicated salespeople, 30 technical employees not in sales and seven in sales. They employed an average of two full-time marketers.
Click through the gallery above to meet the 36 women whose firms made the 2023 MSP 501.
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