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Middle market corporate honchos are bullish on business.
Nearly
eight out of 10 (79%) expect their company’s revenue
to increase in 2003 while 67% anticipate an increase in profitability,
according to the biannual Grant Thornton Survey of Middle
Market Business Leaders, conducted by Wirthlin Worldwide.
Technology
firms are the most optimistic when it comes to
revenue, with 90% anticipating an increase.
While only 19%
of the total sample expects to increase exports this year,
consumer and industrial product companies expect
the greatest increase in exports (33%).
One-third (36%) of respondents expect to raise prices in
2003. ‘Other’ industries
are the most likely to increase prices (50%), while the
technology sector is the least likely (24%).
In terms of
capital expenditures, 41% expect to increase
investments in plants and machinery and 28% in new building
investments.
The data reflects
interviews with 316 business owners and senior executives
across four industry groupings:
technology,
consumer
and industrial products, services and other companies
with annual revenues between $20 million and $1 billion.
Other findings:
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Financial concerns
(32%) is the single most important issue facing middle
market businesses. |
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Middle market businesses are
marketing their current products and services as opposed
to developing new ones. |
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Eight of 10 executives say understanding
or rethinking their company’s unique differentiating
value is a major priority, and 51% say it is even more
important today. |
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Nearly four out of 10 leaders
are including new people at the planning table. |
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