Small and midsized manufacturers continue growth expectations

April 24, 2013

Prime Advantage, a Chicago-based buying consortium for midsized manufacturers, has announced the findings of its fifth annual Group CFO Survey, revealing financial projections and top concerns of its member companies' CFOs in 2013. These CFOs remain optimistic about financial prospects and are focused on growth, as indicated by increased hiring, capital, and R&D investments.

According to the survey, 64 percent of executives feel more optimistic about financial prospects for their own companies, down slightly from 69 percent a year ago. Seventy-three percent forecast moderate to rapid growth for their key customers for the next 12 months. A record number of companies — 72 percent — are planning capital expenditures in computer hardware and software.

Top priorities in 2013 include cutting operational costs, developing new products and services, and seeking new markets for products and services. Health insurance premiums increased for most respondents in the past year, and 94 percent anticipate an increase in health care premiums in 2013.

Forty-nine percent of respondents are planning to increase the number of employees in 2013, up from 41 percent in 2012.



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