March 3, 2023

Growth… And More Growth

Growth… And More Growth

Economists are upgrading their outlook for the economy and dialing back their predictions for a recession, saying it will happen later in 2023 if it happens at all. Despite persistent inflation, high interest rates and labor shortages, there has been plenty of economic growth.

Growth was the underpinning of 2022 for Marcum, as we were reminded when we undertook the annual exercise of compiling our 2022 Year In Review, released a few days ago. The opportunity to take stock of a year that was unusual for so many reasons was eye-opening on a number of levels. It was hard not to filter that unique moment in time through the lens of the post-COVID economy.

Virtually all of our specialized industry groups expanded, reflecting the growth of the clients we serve. Among them were Food & Beverage (up 71%), Consumer & Industrial Products (49%), Capital Markets (41%), Technology & Life Sciences (38%), and Alternative Investments (33%), among others. The numbers tell a very optimistic story.

We also accelerated our strategic mergers and acquisitions activity. Eight firms joined our organization, enabling us to further expand our service offerings and geographic reach, as well as our professional team (now numbering over 4,000).

Of course, at the heart of all the decisions we make and the strategic directions we take are our clients. We were deeply gratified to learn through our client feedback programs last year that our efforts to continuously improve the way we deliver service to you appear to be working. Our overriding goal is to always exceed your expectations, and based on what our clients shared with us, it appears that we are succeeding.

This is the kind of feedback every CEO wants to hear, and it reflects the ongoing daily efforts of every member of our team. As we continue to grow in 2023, we will keep our eyes firmly trained on client experience. At our heart we’re a service firm, and it is only through your success that we can celebrate our own.

You can read more about our 2022 highlights HERE.

March is perhaps the busiest month of the year for Marcum. It’s prime time for all of our service lines (Assurance, Tax and Advisory) as well as all of our specialized industry groups. Whether it’s financial statements, tax returns, or consulting projects, we don’t get busier across our firm than we do this month. None of this would be possible without the tireless dedication to client service of the entire Marcum team. So knowing the entire team will be giving the more than 100% needed for us to get it all done, here’s the first of the many THANK YOUs I will be conveying over the next couple of months.

Have a great weekend everybody!