PwC's quarterly Private Company Trendsetter Barometer tracks the business issues and best practices of privately held US growth businesses. This quarter's report incorporates the views of 234 chief executive officers (CEOs/CFOs): 136 from companies in the product sector and 98 in the service sector, averaging $337 million in enterprise revenue/sales, and including large, $500M-plus private companies.
- Private companies increased their projected revenue growth rate for the next 12 months, despite ongoing uncertainty about the economy.
- The increase was driven by companies selling solely in the United States. Their projected revenue growth rate rose from 6.9% to 8.6%.
- Slightly more private companies are optimistic about the US economy (44%) than uncertain (41%), and markedly more confident than a year ago.
- Most private companies (83%) expect positive revenue growth over the next year.
- Lack of demand, continued legislative/regulatory pressures, and lack of qualified workers remain top potential barriers to growth.
- Private companies that sell internationally continue to outpace their domestic-only peers in prospective spending.
- Hiring plans hold steady, with 55% of Trendsetter companies looking to add new employees.
- Although still low, bank-loan activity nearly doubled, with 11% of private companies reporting new bank loans.
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