Accounting firm Plante & Moran said it was seeing optimism among the businesses it surveyed in the Midwest despite general worries about the economy.
More than two-thirds of the 344 midsized business owners the firm surveyed in Michigan, Ohio and Illinois indicated they were somewhat optimistic or very optimistic about the continued growth of their business. They cited a skilled workforce and a strong work ethic as the key factors.
However, more than 51 percent believe the region needs more supportive government policies, and 53 percent believe the region's tax structure needs to be more supportive to encourage growth. More than 70 percent of the respondents from all three states feel collaboration with other organizations is important to success.
In Michigan alone, more than 65 percent of the business leaders surveyed said they were somewhat optimistic or very optimistic about the continued growth of their business.
The results seem to contrast sharply with other recent surveys by groups such as the National Small Business Association and Discover Business Card, which found considerable fears about the economy among small businesses. Plante & Moran surveyed midsized businesses, however, ranging from $10 million to $500 million in revenue.
“What we’re seeing in our client base is that more and more middle-market businesses seem to have stronger leaders and a clearer vision and are more focused on that direction, coupled with the ability to execute on their plan and cut bait when something doesn’t work,” said managing partner Bill Hermann (pictured).
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