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Each quarter, the National Center for the Middle Market (NCMM) surveys 1,000 mid-market executives to gauge the performance and outlook of this vital sector of the U.S. economy. The Middle Market Indicator’s latest findings show that the U.S. middle market is growing revenue nearly twice as fast as the S&P 500 and creating jobs at a faster rate than both the small and large business sectors.
2nd Quarter Middle Market Performance
Florida’s Middle Market
Florida middle market companies are even more optimistic than their national counterparts.
Seventy-four percent of Florida middle market executives project that gross revenue will grow and they expect a mean total growth of six percent.
Mid-sized companies in the Sunshine State created new jobs nearly one full percentage point faster than their national peers (4.1 percent vs. 3.2 percent).
Looking ahead to the next 12 months, executives report this trend will continue. Fifty-eight percent of executives (vs. 47 percent nationally) project employment will increase in the next 12 months, and they expect a mean total growth of 3.8 percent (vs. 3.3 percent nationally).
The next four greatest challenges that Florida middle market executives face are government uncertainty, ability to maintain margins, ability to continue to grow revenue, and the cost of doing business.
Like their national counterparts, Florida middle market executives rank the cost of health care as their top challenge to doing businesses.
National Middle Market Middle
Market executives reported a mean total revenue growth of 6.6 percent and a mean total employment growth of 3.2 percent
70 percent of mid-market executives project gross revenue will increase in the next year, compared with 59 percent who responded positively to the same question in Q1 2014.
Mid-market executives reported record confidence in the U.S. economy in Q2 2014, with 68 percent of executives expressing confidence.
Key Challenges Facing U.S. Mid-Sized Firms
Healthcare costs remain the top concern for middle market companies. In Q2, 54 percent of executives reported the cost of healthcare as being highly challenging, up from 46 percent in Q1.
Fifty percent of middle market executives feel the regulatory environment is more restrictive than it was a year ago. That number has risen by four percent since Q1.
Access to capital for middle market firms remains a key challenge. The majority of middle market leaders say the ease of accessing capital has not changed in the past year.
To view the entire report, click here.
