Midsize Companies See Growth Ahead

Growth dominates the agendas of midsize companies, a new survey by Deloitte indicates. About 80% of respondents see their company's revenues and profits growing this year, and nearly 70% plan to hire, according to the survey of 527 top managers at U.S.-based firms with between $50 million and $1 billion in revenues.
But economic uncertainty and weak market demand continue to be top concerns. Few of those surveyed expect outsized growth in the economy as a whole, with most anticipating an increase in gross domestic product of 3.5% or less. The survey results show "a great deal of optimism grounded in some level of caution," says Tom McGee, managing partner of Deloitte Growth Enterprise Services.
So where will the growth come from? The most popular growth strategy for midsize companies remains expanding within U.S. markets, named by 56% of respondents. Along those lines, about 35% said they were likely to make an acquisition in the coming year, mainly in the United States.
Source: CFO.com