“More than 218,000 small businesses export. That is nearly triple the number that exported 10 years ago: 62,000 of these exporters are small and medium sized manufacturers.” The Future Success of Small and Medium Manufacturers by the Manufacturing Institute cited this along with other information about our US manufacturing economy in a report released last month.
They defined small as being less than 500 employees and medium-sized as being less than 2,500 employees. Their data showed that small manufacturers account for 298,000 companies, medium for 3,000 companies and large for only 1,000 companies. “Standing alone, the U. S. manufacturing sector would represent the eighth-largest economy in the world, nearly equal to China’s entire economy.”
USA manufacturing suffered greatly during the 2001 recession when general operations turned negative. However, since then manufacturing profitability has turned up to over a 5% profit/sales ratio, one of the highest levels of the past 30 years. Our company, Agracel, is seeing increasing activity in manufacturing companies looking to expand, a trend that we think will continue for several years into the future.
The USA manufactured more goods in 2005 than at any time in its history and I’m convinced that 2006 will be an even better year, setting a new record. You don’t want to give up on manufacturing, which has many great years ahead of it in our country.