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Middle market business executives predict an improved U.S. economy next year, and the vast majority said their companies are adding employees and enjoying stronger revenue, according to the 2013 Mid-Market Outlook Survey conducted by KPMG LLP. According to the survey, 45 percent added headcount since last year and 55 percent will hire in 2014, including 11 percent that expect to increase personnel by more than 7 percent over current levels.
Seventy-three percent of executives said revenues are up from prior year — up from 58 percent who reported such increases in KPMG’s 2012 survey — and 78 percent predict revenues will continue to rise in 2014.
“Middle market companies have experienced some positive momentum in the past year, and there is a growing confidence in the marketplace,” said Brian Hughes, KPMG partner and national leader of the firm’s Private Markets Group. “These businesses are gaining a sense of stability and there is no question that companies will look to raise capital or debt, or put pent-up cash in play to invest in growth — both organically and inorganically.”
The survey, conducted in Spring, included 349 senior executives from nine industry sectors in companies with annual revenues in the $100 million to $1 billion range.