NASHVILLE, Tenn., Dec. 18, 2017 — LBMC, a Top 50 accounting firm and the largest professional services organization in Tennessee, presents the first annual Business Outlook Survey Report full of information to help you plan for the coming year. The report was based on results from the Business Outlook Survey where more than 260 business leaders, mostly in the C-suite, reviewed business activity over the past year and provided insight into how these leaders see the business landscape over the next 12 months.
Most agree that 2017 was a good year for business. But as you plan for 2018 and look ahead to 2019, are you paying attention to key economic trends, industry data and regional information? Are you in tune with the goals, priorities and challenges of your peers and competitors, as well as those of your clients? LBMC helps answer these questions – and more – in the first annual Business Outlook Survey report.
Business Outlook Survey Report – Key Takeaway
The majority of respondents reported revenue growth in 2017 and were cautiously optimistic about 2018. These results line up with a recent report by the Conference board— an independent business membership and research association — which revealed a strong showing for business in 2017 and projected the U.S. economy will grow 2.5 percent in 2018.
How do your plans for 2018 compare to those of other business leaders?
- Improve operational efficiency and productivity
- Manage, retain, and develop key talent
- Increase automation
- Harness, use and maximize company data
- Leverage technology
- Enhance existing products, services, resources and markets
Do you face challenges similar to those of your peers as well as outside your industry?
- Tax rates
- Regulatory requirements and reporting
- Labor costs
- National and world economy
Who participated in the survey?
- More than 260 business leaders, mostly in the C-Suite
- Eight major industries, including healthcare, construction, financial services/banking, manufacturing, professional services, real estate, retail trade and technology
- Companies across the U.S., all sizes
“We believe the report offers critical information for business leaders across multiple industries as they shape their operations and will allow them to make informed decisions as they continue to develop blueprints for success,” said Suzanne Reed, LBMC's Director of Marketing.
One more reason to make the most of 2018 – the economic forecast may turn cloudy by 2019, according to UCLA Anderson senior economist David Shulman.
LBMC is a Top 50 firm in the country and the largest professional service solutions provider based in Tennessee, serving more than 6,000 clients with diverse needs across a spectrum of industries. Today, we've become industry leaders in financial, human resources, technology, information security, and wealth advisory services.
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