Report also reveals opportunities, challenges, and strategies for four industries

LBMC, a top 40 accounting firm and the largest Tennessee-based professional services and business consulting firm, is pleased to present the fifth annual national Business Outlook Report. The report offers insight into business trends, challenges, growth opportunities and the economic outlook for the U.S. with additional details on the healthcare, manufacturing & distribution, construction & real estate, and technology industries.

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What's top of mind for businesses in 2022? LBMC’s Business Outlook Report addresses this question and offers insight into business trends, challenges, and levels of optimism across four major industries in the U.S. (Photo: Business Wire)

The report also provides perspective into the business landscape over the last 12 months and expectations for 2022, specifically focusing on the changing business environment, performance, and strategies, as well as key business topics for the coming year.

As value added pieces, this year’s report includes a spotlight on the Private Equity market, as well as a section on the global and U.S. economy, with a focus on the Tennessee economy.

“Navigating business growth in 2022 is complex. High growth firms are no longer looking simply at regulatory and compliance issues, rather they are focused on where they are going and how they are going to get there. Our clients want accelerated growth, and they need the ability to scale up and create efficiencies within their processes. They need to know how to grow more efficiently, how to staff appropriately and how to use technology to take care of their businesses and clients. Growth is in knowledge, and we think it’s valuable for our clients to know what’s going on in their industry and their market,” said Suzanne Reed, MBA, Chief Marketing Officer, LBMC.

Download your copy of the Business Outlook Report here.

The report highlighted that while business leaders continue be challenged by talent and supply chain issues, recovery is underway across all industry segments.

Top business challenges

• Finding and retaining talent
• Overcoming supply chain issues
• Managing cybersecurity and data security

Top growth opportunities

• Mergers & acquisitions
• Developing new products and services
• Investing in technology

“Today, advisory services are our clients’ top priority as they recover financially from the pandemic and look toward the future,” says Jeff Drummonds, LBMC CEO. “In the complex environment identifying opportunities and implementing solutions on-demand is vital in making timely decisions to react and grow in the marketplace. At the end of the day, providing growth and strategy reports like the Business Outlook Report is just one additional way to advise and partner with our clients on their business objectives. If our clients tell us LBMC keeps me aware of things I need to be thinking about, we consider that a big compliment.”

About LBMC

LBMC is a Top 40 Firm in the nation serving approximately 10,000 clients with diverse needs across a spectrum of industries. Named a 2022 Forbes Best Tax and Accounting Firm, a 2021 Accounting Today Pacesetter for Growth, and a 2021 Best Workplace in Consulting & Professional Services, LBMC has more than 750 team members across the nation, with offices in Chattanooga, Nashville (Brentwood), and Knoxville, TN, and Charlotte, NC. Founded in 1984 as a traditional accounting firm, LBMC has expanded its focus to meet a broad range of advisory and business consulting needs for its diverse client base. Today, LBMC and the LBMC Family of Companies are industry leaders in financial, human resources, technology, information security, staffing and wealth advisory services for businesses and individuals. For more information, visit www.lbmc.com.

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LBMC’s Business Outlook Report offers insight into business trends, challenges, and levels of optimism across four major industries in the U.S. #businesstrends via @lbmc_pc