Things Looking Up For Mid-sized Firms

April 17, 2002 ( U.S. Corporations are considering expanding their workforces and increasing their spending, according to a survey by Harris Nesbitt.

After aggressively reducing costs in 2001, 33% of the survey’s respondents said that they planned to increase their payrolls, while 40% said that they intended to increase capital expenditures to purchase new technologies (73%), equipment and infrastructure (73%) and employee training (72%).

The survey also found that many of its respondents were thinking about effective methods of increasing their clientele. Of the respondents:

  • 92% of said they intended to boost revenues by attracting new customers. 
  • 82% said they would refocus their energies on existing clients.
  • 56% said they would launch new products
  • 42% said they would branch out into new markets
  • 40% said they would enter into an alliance or joint venture
  • while 29% said they would try to acquire another company.

400 CEOs of companies reporting fiscal 2000 revenues of $50 million to $750 million were surveyed.