LBMC 2021 Small business Tendencies Report Outlines Insights from C-Stage Executives from 7 Industries Throughout the Nation

NASHVILLE, Tenn.–(Enterprise WIRE)–LBMC, a best 50 public accounting company and the most significant Tennessee-centered expert solutions and business enterprise consulting firm, is delighted to existing the fourth once-a-year nationwide Company Outlook Report. The report delivers perception into business trends, challenges, and levels of optimism across seven big industries in the U.S.

The report was primarily based on final results from the nationwide Company Outlook Study, exactly where far more than 500 enterprise leaders, typically in C-stage positions, reviewed small business exercise above the previous calendar year and delivered perception into the company landscape around the next 12 months. Additional than half of the contributors characterize organizations with $15 million plus in income and at minimum 50 personnel. For the 1st time, this year’s report also surveyed significant progress organizations – corporations with a progress price of at least 20{f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4}.

“As businesses tailored to the new normal over the past calendar year, a lot of brought in skills, talents and procedures they did not have prior to the pandemic. What are they focused on in the coming year? This report outlines top priorities for organization leaders in 2021 and over and above,” explained Suzanne Reed, MBA, Chief Internet marketing Officer, LBMC.

Obtain your duplicate of the Small business Outlook Report right here.

2021 Small business Outlook Report – Key Takeaways

The COVID-19 pandemic was by much the most substantial obstacle of 2020, affecting all industries and nearly 3 out of four enterprises surveyed. Though the election was a concern for more than 40{f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4} of respondents, almost 60{f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4} of individuals surveyed have been neutral or positive about the election. While optimism about the economic climate is low, numerous corporations imagine their profits will improve this year. For much more than 50 percent of companies, attaining and retaining talent was a major priority.

Report highlights

Leading priorities:

• Developing income
• Enhancing financial overall performance
• Raising business benefit
• Retaining and obtaining great talent
• Improving info administration

Prime small business challenges:

• COVID-19 pandemic
• Domestic economic circumstances
• Staff and added benefits expenses
• Regulatory needs/changes
• Acquiring new items/services/marketplaces
• Staff members turnover/availability of top rated staff

Who participated in the survey?

• More than 500 enterprise leaders, mostly in the C-Suite
• Seven important industries, which include health care, producing & distribution, development & actual estate, technological know-how, nonprofit & education, professional providers, retail & leisure/hospitality
• Providers throughout the U.S., all dimensions
• Superior development, average growth and no expansion corporations

“If 2020 has taught us nearly anything, it is that there will often be factors outside the house our command that will influence your business. If you are executing the ideal points, you will be far better outfitted to temperature the storm when curveballs are thrown at you. One of the silver linings of 2020 is that it resulted in beneficial changes that may perhaps not have taken location if not – particularly all around technological innovation and innovation. If you have the appropriate infrastructure in area to consider treatment of your crew customers and consumers, the rest will tumble into place,” explained Jeff Drummonds, CEO, LBMC.

About LBMC

LBMC is a Forbes Major Encouraged Firm, just one of the Southeast’s premier accounting and company consulting corporations and a top rated 50 agency in the country serving about 10,000 clientele with numerous desires throughout a spectrum of industries. The LBMC Family members of Corporations has more than 700 personnel, with workplaces in Chattanooga, Nashville (Brentwood), and Knoxville, TN, and Charlotte, NC. Launched in 1984 as a standard accounting firm, LBMC has expanded its target to fulfill a broad array of advisory and company consulting desires for its various shopper foundation. Now, we have develop into business leaders in financial, human assets, know-how, data security, and wealth advisory companies for corporations and folks. For more information, check out www.lbmc.com.