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GROWTH COMPANIES SLOWED IN 1991 BUT PLAN AGGRESSIVE STEPS TO REBOUND: COOPERS & LYBRAND

 GROWTH COMPANIES SLOWED IN 1991 BUT
 PLAN AGGRESSIVE STEPS TO REBOUND: COOPERS & LYBRAND
 NEW YORK, Dec. 5 /PRNewswire/ -- Even America's fastest growing businesses are now feeling the pinch of the recession, according to Coopers & Lybrand's Emerging Business Services group, initiators of a new survey program to regularly take the pulse of the country's leading growth companies.
 As a group, CEOs of these companies expect 27 percent sales or revenue growth in 1991. But 28 percent expect to slip to single-digit growth by year-end, including 18 percent that expect zero or negative growth.
 Plans for Growth
 Growth company CEOs are not sitting back and waiting for the economy to rebound from the recession: 92 percent are planning increased investments and 75 percent are hiring new employees.
 Seventy-one percent are developing special actions to stimulate top- line revenues. The three major initiatives cited by these entrepreneurs are:
 Business Expansion
 -- 46 percent report increased investment for facilities.
 -- 41 percent will invest in geographic expansion.
 -- 40 percent plan to improve information technology capabilities.
 New Products and Services
 -- 50 percent will be increasing their investments in new product
 or service development.
 -- 39 percent will spend more on research and development.
 Marketing and Sales
 -- 44 percent plan to hire additional sales and marketing people.
 -- 34 percent will invest more in sales promotion.
 -- 32 percent will increase advertising budgets.
 Focus on Bottom Line Improvements
 Forty percent of growth company executives will focus on cutting and containing future operating costs in the year ahead. Priorities for this group are increased control of budgets for overhead and controllable expenses, and restructuring of their work forces to contain future hiring. Only 2 percent plan to reduce employees now.
 Coopers and Lybrand's "Trendsetter Barometer" is developed and compiled by the firm's Emerging Business Services group with assistance from the opinion and economic research firm of Business Science International. Coopers & Lybrand's Emerging Business services people serve the needs of growing and midsize companies.
 One of the world's leading accounting, tax, management and benefits consulting firms, Coopers & Lybrand provides solutions for businesses in a wide range of industries. The firm offers its clients the expertise of more than 17,000 professionals and staff in 100 U.S. offices and more than 65,000 people in 112 countries worldwide.
 NOTE: Coopers & Lybrand's "Trendsetter Barometer" interviewed CEOs of 232 manufacturing and service companies identified in the media as the fastest growing U.S. businesses over the last five years. The surveyed companies range in size from approximately $1 million-$50 million in annual revenues/sales.
 -0- 12/5/91
 /NOTE TO EDITORS: Camera-ready graphic art available upon request./
 /CONTACT: David L. Nestor of Coopers & Lybrand, 212-536-2965/ CO: Coopers & Lybrand ST: New York IN: FIN SU: ECO


CK-JT -- NY068 -- 9742 12/05/91 14:31 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 5, 1991
Words:460
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