In our 2019 CEO Survey, Private business CEOs said they are less confident about their firm's growth prospects than their counterparts at public corporations. They are also less optimistic about global economic growth. Consequently, private business CEOs are more likely to look inward for organic growth—achieved through operational efficiencies and new products or services—rather than enter new markets.
Many private businesses have a decided edge in the most important challenges of the next few years, even in the midst of uncertainty. This includes advantages in developing talent, implementing the right technology for the business, making quick and nimble moves to pounce on opportunities, and viewing the world through a longer lens than what the next quarter will bring. These advantages are responsible for the longevity and resilience of many private businesses.
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