CIT: Mid-Market Companies Stronger Today Than Pre-Recession
While economic uncertainty at the national level is a top concern among middle-market executives, many still believe that their companies are on solid ground. More than half (53%) say that their companies are stronger today than before the Great Recession, according to the “CIT Voice of the Middle Market: Perspectives from the Heart of America’s Economy” survey released by CIT.
The majority of middle-market executives also report that, during the next 12 months, their companies are likely to: increase the range of products and services they offer in current markets (65%); expand into adjacent markets (58%); and enter other geographic regions (54%). In addition, about four in ten middle-market leaders (42%) also expect to expand their workforce in the coming year.
“Middle-market companies have long been the backbone of the U.S. economy, employing tens of millions of Americans and generating trillions in revenue annually,” said John A. Thain, chairman and chief executive officer.