Middle-Market Firms Saw Record Growth in 2022 but Face More Caution in 2023 Amid Economic Uncertainty
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Middle-market companies saw strong revenue growth in 2022, but expect slower growth in 2023. Still mostly optimistic about economy.
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77% of middle-market firms reported improved performance in 2022, a survey high. Companies between $50M-$100M in revenue saw 12.4% growth.
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Hiring and retention remains a major challenge. Employment growth projected to slow to 8.7% in 2023.
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61% of companies plan new products/services, 55% to expand domestically. 34% testing artificial intelligence.
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Top risks include inflation, recession, regulations, supply chain issues. Most lack adequate insurance, especially for cyber threats.