Economic optimism is back in a bid way at most middle-market businesses, according to a new survey from Grant Thornton.
The global tax, accounting and business services firm says 86 percent of the companies surveyed expect growth in their respective businesses this year. Some 70 percent expect to see overall improvement in the US economy.
But the survey was not necessarily good news for job seekers. Only 41 percent of execs told Grant Thornton that they expect to increasing hiring over the next six months. That’s a drop from 50 percent as reported in the firm’s November survey.
(Middle-market firms are defined as businesses with revenues of $100 million and $2.5 billion and employ some 20 million people.)
“Middle-market companies have pared down considerably over the past year to keep their heads above water. As part of this process, they have streamlined processes, and reduced unnecessary operations to keep costs at a minimum,” says John Desmond, partner in charge of the Grant Thornton Business Leaders Council, in a statement. “These initiatives are now beginning to pay off, increasing middle-market executive optimism for future growth.”
Grant Thornton, which has offices in Raleigh, Charlotte, Greensboro, Atlanta and Columbia, said the full text of the report would be made available in July.
Grant Thornton: www.grantthornton.com
