When assessing the ever-changing data analytics vendor landscape, Soumendra Mohanty, VP with IT services and consulting firm Mindtree, reports that while consolidations have been occurring, the space is opening up thanks to big data, advanced analytics/machine learning and advanced data visualization.
Women are becoming majority owners of midsized businesses at a breakneck pace. Their rate of ownership grew at one-and-a-half times the national average between 1997 and 2014, according to the 2014 State of Women-Owned Business report commissioned by American Express OPEN.
Many mid-market business owners plan to expand globally, but feel constrained, saying they lack the tools to manage a global workplace. According to a recent ADP study, two in five midsized business owners say globalization has affected how they conduct their day-to-day business.
The middle market contributes vitally to our economy, whether it’s being responsible for trillions of dollars worth of output or creating millions of jobs. For these businesses to continue to grow, however, business leaders need to adapt to today’s dynamic environment.
If the U.S. middle market—which employs 32 million people—were a country, it would have the 4th largest GDP in the world, according to commercial lender CIT. In addition, it takes in more than $6 trillion in revenues and creates 25% of all U.S. jobs. Based on its size, it would not be difficult for the middle market to effect change, and when it comes to corporate taxes, that’s exactly what the collective group is trying to do.
A recent Deloitte survey asked middle-market executives to list their main impediments to U.S. growth. Rising healthcare costs came in second, after government budget challenges. And these increasing costs are having a challenging effect on midsized firms' overall margins.
Globalization offers countless opportunities for companies to expand market share, and increase revenues and profits. But for businesses to operate seamlessly across borders, it’s critical their supply chains experience no disruptions.
When it comes to being a victim of cyber attacks, mid-market companies are finding that no business is too small for a hacker’s purview. With financial losses from security incidents rising 18% from 2013 to 2014, executives are working on doing whatever it takes to develop adequate safeguards. And many feel the federal government’s involvement may also help, particularly, among small to mid-sized businesses.