The results of an International Profit Associates Small Business Research Board (IPA SBRB) survey released this week show that small and medium-size manufacturers are more optimistic than other industry segments. Many owners and managers are projecting revenue growth and continued hiring over the next 12 months. Almost half of the surveyed manufacturers indicated that they are forecasting improvement in the economy over the next 12 months. A full 50% of them expect revenues to increase during that same period with approximately 40% saying they expect revenues to remain about the same.
However, the survey also found that many manufacturers have concerns over issues that may impact those optimistic revenue levels. Finding quality employees was listed by 17% of the manufacturing respondents as their most significant issue. Other major issues were cost of materials (16%), taxes, (13%) and economic conditions (12%).
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