When COVID-19 struck, Mid-Market Leaders Who Leaned in were Rewarded

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Amid a year of upheaval and uncertainty, the most agile mid-market leaders employed a cross-section of tactics to survive and, in some cases, thrive.

“Middle-market CEOs and business owners have clearly faced one of the most challenging periods their companies will likely ever encounter as a result of the COVID19 pandemic and associated economic and market fallout,” Newport CEO Kevin Poole.

Newport LLC, a strategic advisory firm focused on the mid-market, today announced the results of their 2021 Mid-Market CEO Survey. In early 2021, Newport asked mid-market CEOs, across multiple industries throughout the United States, to share their experiences with the COVID-19 pandemic. The resulting report revealed that while the global pandemic created an incredibly challenging business environment, many mid-market business leaders rose to the challenge - quickly making operational adjustments and deploying an array of incremental changes that, in some cases, resulted in growing their business.

Newport’s report examines how mid-market leaders navigated the business environment created by the pandemic, and the impacts on growth, profitability and transactions (M&A) activity, and the way forward in the post-pandemic business environment.

“Middle-market CEOs and business owners have clearly faced one of the most challenging periods their companies will likely ever encounter as a result of the COVID19 pandemic and associated economic and market fallout,” said Newport CEO Kevin Poole. “The past 15 months has demonstrated more than ever that leaders who are capable and prepared to lean into change will reap outsized rewards for themselves and their businesses.”

Key findings:

  • 2/3 of the companies we surveyed reported that their business has been negatively impacted by the COVID-19 pandemic.
  • More than one third took multiple actions in adjusting their sales function, and as a result they outperformed other companies.
  • CEOs report that their current top 3 priorities are revenue growth, customer experience, and employee wellness.
  • Of those businesses contemplating a transaction (M&A), more than half indicated that COVID had delayed their plans.

Newport’s 2021 Mid-Market CEO Report reflects the experience and thinking of some of the most innovative and dynamic CEOs in the United States, along with analysis and insights from Newport’s mid-market experts. To access the full report, visit: https://newportllc.com/2021-ceo-survey,

For the purpose of this report, the mid-market is defined as companies with revenues between US$10-150M.

About Newport
Newport is a strategic advisory firm that helps privately held, growth-stage companies grow faster, deliver maximum value at exit, and successfully transition from one generation to the next.

When businesses thrive, so do their customers, employees, and communities. Achieving this impact is what energizes us. Our expanding network of more than 50 partners operates from major cities across the United States.

For more information, contact:
Eric Jepsky
Partner, Newport LLC
Eric.jepsky@newportllc.com

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Eric Jepsky
Newport LLC
(415) 293 8171
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