Growth outlook bleak for manufacturers

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Manufacturing growth plans during the next 12 to 24 months
Plan to expand business:
25% Yes 75% No
Of those planning expansion:
21% Expand at current locations
20% Enhance customer service
18% Add new products
18% Add locations
11% Provide more services
8% Other
4% Acquisitions

Small manufacturing companies don’t seem to be very optimistic about growing their businesses during the next couple of years.

Only 25 percent surveyed by the Small Business Research Board during the third quarter said they plan to expand their businesses during the next 12 to 24 months.

That’s down from the 29 percent who planned for growth during second quarter.

Still, the overall outlook for the general economy during the next twelve months was somewhat positive with 36 percent saying conditions will improve, 29 percent saying they will get worse and 35 percent saying there will be no change.

More than 800 small businesses participated in the overall nationwide third quarter SBRB poll.

More information about manufacturing business confidence during the third quarter can be found on the International Profit Associates Web site.