The economy is growing so much that 84% of high-revenue business owners and executives say they plan to expand, according to new survey.
SunTrust Banks conducted the survey, which asked the leaders of companies with $10 million to $150 million in annual revenue their thoughts on the immediate future. The expansion, for many respondents, would come through the introduction of new products and services. Others expect to make major capital investments or target new customer and business sectors.
More than half the respondents, 59%, say they will grow organically, while a quarter say they will explore an acquisition or merger, or even consider private equity funding.
Companies with revenue between $2 million and $10 million felt similar, the survey reports, with 78% primed for growth and 31% say they will introduce a new product or service. SunTrust reached out to 500 small- and mid-sized businesses for the survey.