Capstone Partners Releases Findings from its First Quarterly Middle Market Business Owners Research Survey: CEOs Show Optimism for Future Economic, Revenue Growth

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BOSTON, Oct. 28, 2021 /PRNewswire/ -- Capstone Partners, a leading middle market investment banking firm, released its first quarterly Middle Market Business Owners Survey Report, with insights from privately-owned companies across the U.S. This report combines Capstone's in-depth middle market expertise with proprietary data obtained from 380 participating business owners of privately owned, middle market companies.

CEOs Show Optimism for Future Economic, Revenue Growth in Newly Released U.S. Middle Market Business Owners Survey

Conducted between July 13 and August 13, 2021, the survey captures sentiment at a pivotal moment in the U.S., helping to identify the leading challenges, recovery tactics, and value drivers that characterized middle market business in Q2 2021

Key Findings:

  • Optimism is up. CEOs report bullish outlook for their respective industries (70%+) and the broad U.S. economy (63%+) in Q3.

  • 94.2% of business owners reported facing obstacles to growth in Q2, highlighting the ways in which COVID-19 continued to weigh on the global economy and demonstrating the long path ahead to a full return to normalcy.

  • Supply chain disruptions challenged owners across industries in Q2, with materials availability cited as the foremost issue.

  • Workforce shortages have also afflicted businesses in a variety of industries as limited talent pools made it difficult to hire and retain employees.

  • In Q3, organic and inorganic growth strategies will be the focus for owners as they enter new markets, scale operations, and bolster sales efforts

  • Top initiatives for business owners varied across industries, but were led by increasing profitability (81.9%), expanding the workforce (74.2%), broadening marketing efforts (72.1%), and optimizing operational efficiency (71.2%).

Through this research, Capstone has evaluated the health and recovery of the middle market in Q2, uncovering recent challenges faced by business owners, the resources required to offset these challenges, and how COVID-19 impacted business models. The report also provides an analysis of forward-looking growth strategies and initiatives, business owners' outlook on their respective industries and the U.S. economy, revenue changes, and expectations for returning to "normal" business conditions.

To access the full report including a breakout of the results by industry, click here.

Make your voice heard in our Q3 survey here.


Capstone Partners is one of the largest independently owned investment banking firms in the United States offering a fully integrated range of expert investment banking and financial advisory services uniquely tailored for middle market companies. For more information, visit

For More Information Contact:
Sarah Doherty
Vice President of Research


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SOURCE Capstone Partners

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