Springfield, MO

Survey: Manufacturers bullish on ’17 sales growth

Posted online
Manufacturing executives are painting a rosy picture for the future of the industry, according to a survey jointly released yesterday by Springfield-based KPM CPAs PC and The Leading Edge Alliance.

The 2017 National Manufacturing Outlook and Insights Survey indicates about 70 percent of the 250 survey respondents expect revenue increases this year and half of them are preparing to hire more workers, according to a news release. Additionally, two-thirds expect labor costs to increase and the top barriers to growth were a lack of qualified workers, rising health care costs and pressure for higher wages.

Manufacturing executives from 20 states participated in the survey, representing industrial/machining, transportation/automotive, food and beverage, and construction materials, among other sectors. The survey was distributed late last year to the manufacturing clients of Leading Edge Alliance’s member accounting firms, according to the release. The responses were kept anonymous.

“Learning about these optimistic expectations from other manufacturers across the county will help us and our clients better prepare for the year ahead,” KPM shareholder Gary Wells said in the release.

The survey also noted the high-growth respondents were more focused on research and development, with 12 percent of them planning to reinvest at least a tenth of annual  revenue in R&D. Merger and acquisition activity also could spike, the survey said.


No comments on this story |
Please log in to add your comment
Editors' Pick

Flip Side of Bitcoin: Cryptocurrency technologies maturing, finding place in business

The development of cryptocurrency software may leave a lasting effect in business.

Most Read
SBJ Live logo
Best Advice - Live by Principles

"We all want to build something, we all want to do something fun," says Tez Ward, a financial adviser with Morgan Stanley. "But then once it's built, we set it to the side and move on." Ward says the …

Demand Pull Inventory Control “We’re doing really complicated math, forecasting way in the spring, what we’re gonna need in inventory by what date,” says Shawn Askinosie, the Founder and CEO of Askinosie Chocolate. The …
Need to Focus Leads to Sale of Business “It’s been hard for me to choose. There is a point when I knew I needed to focus on one of these businesses,” says Elle Feldman, owner of Elle’s Patisserie and Lavare Spa (now rebranded as …
My Mentor - My Teammate in Life “He was a strong man of faith and courage and very wise - my biggest supporter in any endeavor in life,” says Tami North, Executive Director of the Rogersville Area Chamber of Commerce and one of …
From Cutbacks to Cutting Tracks “Every day you’ve gotta wake up and say, ‘I’ve gotta make money today,’ says, Ricky Smiley, Founder and Producer of Smiley Records, LLC. When Smiley was laid off from a job he held for 18 …