Other insights of note include:
- New jobs will fuel middle market expansion, according to the most recent survey. Sixty-one percent of the companies planning growth will do so by adding employees. Expansion through adding new facilities or locations and making significant equipment purchases are secondary.
- Cash reserves are on hand for middle market companies financing expansion. Half of the middle market leaders polled will increase cash reserves over the next six months; of those, 39 percent want deep reserves on hand as they plan for company investment or expansion.
- Access to credit increases middle market leader confidence in their ability to finance growth. A combined 70 percent of those polled indicated they are either extremely confident or very confident in their ability to obtain credit.
- Time hasn't eased healthcare cost concerns. More than half those polled are more concerned now than last year at this time about the cost to provide or continue providing healthcare to employees. A significant percentage of those polled – some 62 percent – are very or extremely concerned about the cost to provide adequate healthcare to their employees. Approximately 49 percent indicated they are very or extremely concerned about the cost of continuing to offer healthcare.
KeyBank partnered with Lieberman Research Worldwide on the Middle Market Business Sentiment survey to understand what businesses sentiments are impacting each organization's strategies and tactics, and to determine which regulatory and global economic issues are affecting them. Online surveys were conducted in mid-April and involved 400 financial decision-makers in middle market businesses ranging from $20 million - $4 billion annual revenues.
Key traces its history back more than 160 years and is headquartered in Cleveland, Ohio. One of the nation's largest bank-based financial services companies, Key has assets of approximately $89.2 billion as of March 31, 2013.
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