Middle Market Companies Report a Strong Finish to 2021 with Record Year-Over-Year Revenue and Employment Growth
The middle market’s recovery from the performance lows of 2020 was well underway by mid 2021, and it accelerated in the second half of the year. At year-end, the vast majority of middle market businesses reported year-over-year performance improvements. Nearly four out of five businesses reported year-over-year revenue gains while 57% of middle market businesses expanded the size of their workforce. Among those reporting growth, a significant majority reported gains of 10% or more over the course of the year. New products and services and expansion into new domestic markets are fueling the growth as economic confidence remains high and investment appetites to continue to inch up. While COVID-19 related concerns linger for some businesses, the bigger challenges revolve around growth and talent, specifically IT capabilities and the ability to recruit and hire people with the necessary skills for available jobs. Despite these headwinds, predictions for 2022 are strong with most companies expecting continued healthy revenue and employment growth over the next 12 months.
Year-End 2023 Webinar Recording
Watch the recording from our latest webinar where Doug Farren, Managing Director of NCMM, reviewed the latest research. You can download the presentation slides here.
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Whether you operate a middle market business, run an organization that serves middle market companies or are otherwise invested in the middle market’s success, the National Center for the Middle Market welcomes and values your contributions. The center offers several ways for organizations to partner with us. Learn more below about the ways you can work with the center and play a vital role in advancing the middle market’s prosperity.
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