2019 has proven to be an interesting year for many middle market companies from an economic and risk perspective. According to RSM’s 2019 Economic and Risk Outlook webcast, economic growth is decelerating at a projected 2.2% overall, the U.S. labor market is currently on the upswing as job creation through the year is averaging 155,000 per month, and middle market companies are reporting recruitment and the ability to retain skilled employees to be key stressors. Along with these economic challenges, companies also face risks relating to global political tensions, technology threats, and new data privacy demands.
The following are the most prominent risks that middle market companies should evaluate and address for future success:
- Volatility and global supply chain.
- Culture and conduct.
- Cloud risk and compliance.
- Technology risk transformation.
- Rise of data privacy regulations.