The National Center for the Middle Market (NCMM) has been tracking the performance and sentiments of companies between $10 million and $1 billion in annual revenues since 2012. After experiencing negative growth rates in 2020, average revenue growth for the period of June 2020 to June 2021 was 8%. That’s good news, as average annual growth dating back to 2012 has been approximately 6.5%. However, a closer look reveals a split recovery: 45% of companies reported revenue growth of 10% or more, but another 34% experienced flat or declining revenue.
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