Tom Stewart, the executive director of the National Center for the Middle Market was interviewed by John Bussey of the Wall Street Journal about the state of the middle market and most importantly where it’s headed. Stewart explained in a survey of 1,000 middle market companies collected at the end of March, that companies saw a top-line growth of 9.2% and employment growth of 7.5%. According to Stewart, “This is the first time we’ve seen confidence in the national economy higher than confidence in the local economy. Normally, middle-market companies are most confident in the local economy, then national, then global.”
While the outlook for middle-market companies is good, tax uncertainty remains a concern. In addition, Stewart states that there are companies who believe they could grow even faster if they had the right people. Talent is an issue, making STEM workers, technical workers and executive management roles in high demand.