Private company execs expecting 9 percent growth surge

Patty Tascarella

Senior Reporter- Pittsburgh Business Times

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Top private-company executives expect revenue growth of 9 percent over the next 12 months, according to PricewaterhouseCoopers' national Trendsetter Barometer Business Outlook. That's up from a year ago and one of the highest rates over the past three years for the study, conducted quarterly. About two-thirds said they are positive about the U.S. economy going forward, resulting in plans for major new capital expenditures.

Among the findings:

• About one-third, or 35 percent, plan major new investments
• While 60 percent plan to hire, they expect to increase headcount by just 1.6 percent.
• Some 58 percent cited lack of demand as a barrier to growth
• Those who sell only domestically anticipate revenue to grow by 8.2 percent over the next year but firms do business internationally expect a 9.9 percent increase

A group of 230 top executive officers at privately held companies were interviewed between July 2 and Oct. 1, 2014 by independent research firm BSI Global Research Inc., PwC said. These same companies are interviewed and tracked from quarter to quarter. Pittsburgh-area companies were among them, but regional breakout data was not available. PwC launched the study in 1995.

Patty Tascarella covers accounting, banking, finance, legal, marketing and advertising and foundations. Contact her at ptascarella@bizjournals.com or 412-208-3832. .