Additional finding of the Grant Thornton Survey of Middle-Market Business Leaders include that 84 percent are optimistic about the growth of their businesses over the next 12 months. Fifty-four percent expect their businesses’ growth to be organic, 17 percent predict growth through a joint venture/strategic alliance, 16 percent by acquisition and 4 percent by merger. Fifty percent expect to hire more employees over the next six months, with only 7 percent expecting to reduce work force.
“To survive and thrive in the current economic climate, middle-market businesses are tightening their belts and getting back to basics,” said John Desmond, partner-in-charge of the Grant Thornton Business Owners Council at the firm’s New York office. “With clear goals set for the future, these business leaders are preparing for business growth – both financial and headcount.”
Fifty-eight percent of survey respondents have changed their approaches to business planning in the past year. Three-quarters report a change in planning priorities; 61 percent are shifting the balance between short- and long-term planning; and 60 percent have changed their planning process, including who is involved and the timeframe.
