RSM US Middle Market Business Index Reopening the Middle Market
Midsize businesses display optimism, with responses differing by size
SPECIAL REPORT |
Authored by RSM US LLP
Even as rising coronavirus cases in the third quarter of 2020 forced local U.S. economies to pull back from reopening activities, middle market businesses in the United States remained largely optimistic they would be able to resume operations within the next year, proprietary research from RSM US LLP found.
Executives at midsize companies also appeared steadfast in their approach to pandemic-related safety, ensuring that certain conditions must first be met for employee readiness and on-site worker health protections, as well as requiring a decline in coronavirus case count, according to the third-quarter RSM US Middle Market Business Index survey, which polled executives from July 8 to July 23 on pandemic-related questions.
Enthusiasm for reopening was a predominant theme, regardless of business size. But attitudes and approaches toward remote work, the timing of reopening, the measures necessary to prepare employees and businesses for restarting their offices and facilities, and the handling of reopening costs varied significantly between the larger and smaller middle market.
“We were heartened by the positive response to reopening displayed by the majority of midsize firms in the survey cohort,” said RSM US Chief Economist Joseph Brusuelas, noting that an improvement in economic sentiment in the main MMBI index subsequent to the quarterly survey supports their ongoing optimism. “On a tactical level, however, it seems that smaller middle market firms—while typically more nimble with their operations—will likely feel more pressure on their margins in the near term, due to their inability to pass reopening costs downstream to their customers.”
Enthusiasm for reopening was a predominant theme, regardless of business size. But attitudes and approaches toward reopening varied significantly between the larger and smaller middle market.
These are unprecedented times for organizations across the entire U.S. economy. Each industry will have to work within its unique parameters to get employees back to work. But the positive approach to reopening demonstrated by middle market businesses bodes well for their continued success.
What's inside the 2020 Reopening the Middle Market special report?
The report provides insights into how important executives consider government guidance, employee readiness, COVID-19 case numbers, COVID-19 testing access and a range of other factors in their approaches to reopening. It also includes information on a number of key areas, including:
- Workplace safety
- Communication about reopening plans
- Monitoring productivity
- Reopening costs
- Remote work
- Employee flexibility and assistance
Read RSM’s full report to learn more.
Call us at +1 213.873.1700, email us at email@example.com or fill out the form below and we'll contact you to discuss your specific situation.
This article was written by RSM US LLP and originally appeared on 2020-10-28.
2020 RSM US LLP. All rights reserved.
RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each is separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/about us for more information regarding RSM US LLP and RSM International. The RSM logo is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.
Vasquez & Company LLP is a proud member of the RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.
Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise and technical resources.
For more information on how Vasquez & Company LLP can assist you, please call +1 213.873.1700.
Subscribe to receive important updates from our Insights and Resources.