Private, non-listed companies are positive about the future. They expect their revenues, profits, productivity, and capital investment to go up in the coming year. A key reason for this broad sense of confidence is that private companies have the freedom to maintain a longer-term perspective, since they face fewer short-term pressures from shareholders and other key stakeholders than publicly held companies. Private companies also tend to be able to adapt quickly to changing market conditions.

According to a new Deloitte global survey among private businesses, the risks most are concerned about include trade barriers, potential cyberattacks, and the cost of raw materials. Accordingly, cybersecurity is their their top technology investment priority for the coming year.

Moreover, large share of the companies are focused on market disruption. At least 50% see disruptive competitors as an existential threat. And nearly four in 10 respondents say they are exploring opportunities to take advantage of disruption. A third have already organized dedicated teams focused on disruption.

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