The Middle Market Sustains Revenue and Employment Gains For 24 Straight Months
More than three-quarters (81%) of U.S. middle market companies say they are doing better today than one year ago. Considering that 2022 was a banner year for the middle market in many ways, the numbers suggest that the market that moves America has emerged from the pandemic stronger than ever. While the rapid growth experienced since 2020 can be attributed in part to recovery from the global crisis, companies appear to be sustaining rapid growth for the long-term. The rates of year-over-year revenue and employment growth did ease modestly in this reporting period but remain in the double digits and well above averages. Most middle market leaders are calling for strong growth trends to continue into 2024. Other key performance indicators, including high economic confidence levels and a seemingly renewed appetite for investment, underscore the health of the middle market. Company leaders, however, are paying careful attention to ongoing and emerging headwinds including inflation, high interest rates, talent shortages, and a potential recession on the horizon. In true middle market fashion, companies are taking proactive steps to manage the issues. Most are raising prices and increasing wages and incentives to encourage employee retention. Companies are controlling their operating costs and investing more proactively in risk management and digital transformation to spur the performance and resiliency of their organizations for the long-term.
Year-End 2023 Webinar Recording
Watch the recording from our latest webinar where Doug Farren, Managing Director of NCMM, reviewed the latest research. You can download the presentation slides here.
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Whether you operate a middle market business, run an organization that serves middle market companies or are otherwise invested in the middle market’s success, the National Center for the Middle Market welcomes and values your contributions. The center offers several ways for organizations to partner with us. Learn more below about the ways you can work with the center and play a vital role in advancing the middle market’s prosperity.
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