As Chief Relationship Officer for CEO Connection I receive the results of our monthly Mid-Market Index, “A monthly poll designed to determine and regularly represent the thoughts, issues, and levels of confidence of CEOs of mid-size companies with $100 million to $5 billion in revenues.”
We believe the Index provides valuable data from the perspective of the mid-market C-Suite; a perspective that is important and deserving of attention but usually lost among small business surveys and Fortune 100 reviews. Mid-Market companies are a bellwether of the economy, offering insight into real growth in all regions of the world.
The organization also believes these companies are essential to the global economy. Their $3.84 trillion annual contribution to the U.S. private sector GDP alone ranks them as the equivalent of the world’s fourth largest country.
Because of their importance I wanted to share with you results of our most recent surveys:
1. The CEO Connection Mid-Market Index reveals that CEOs of these companies agree with Starbucks’s Chairman and CEO Howard Shultz that business leaders must be catalysts for change.
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- Nearly nine out of 10 mid-market CEOs (87 percent) believe business leaders must be catalysts for change and (42 percent) would be willing to accelerate hiring at their own companies.
2. Mid-Market companies overwhelmingly believe that a downgrade of the major European economies by Standard and Poor would have little to no impact on their businesses.
- Nearly eight out of 10 surveyed CEOs (80 percent) believe if Standard & Poor’s downgrades Europe’s biggest economies it would have little to no impact on their businesses.
3. Mid-Market CEOs are increasingly optimistic.
- The large majority (83 percent) said business conditions in their industry this month were the same or better than last month and 24 percent indicated that business was better or significantly better in their industry this month compared to last month. This is up from the November Mid-Market Index, when 75 percent responded that business was the same or better and only 13 percent indicated that their business was better of significantly better.
4. Mid-Market CEOs have confidence in their ability to grow organically in 2012.
- A majority of CEOs surveyed (56 percent) intend to grow their business organically in 2012. This expectation of growth may be fueled by their confidence in their industries.
If the mid-market truly is a bellwether for the direction of business in 2012, we can all feel optimistic about the potential for growth. Are you optimistic, and if so, why?
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