Small-business owners welcome ‘buy American’ order; What’s in store for U.S. manufacturing in 2021? Four experts weigh in; Our top 5 reasons why British companies should consider manufacturing in the UK; Manufacturing can be the engine of global recovery – here’s how.
Small-business Owners Welcome ‘Buy American’ Order
Even before the coronavirus pandemic, the industry was in crisis because of a steady decline in U.S.-based manufacturing jobs and lax standards requiring companies to produce locally. The Bureau of Labor Statistics estimates that at least 7.5 million manufacturing jobs have been lost since 1980.
“There was a moment in time when every one of your customers said if you don’t move your business to China, you’re not going to have any business with us,” said James Wyner, CEO of Shawmut Corp., a textile manufacturer with headquarters in West Bridgewater, Massachusetts, whose family has run the company for four generations. Although Shawmut has employees around the world, it falls within the federal small business classification for the textile finishing industry.
What’s In Store For U.S. Manufacturing In 2021? Four Experts Weigh In
Last year saw a historic drop in industrial profits, and this year started with the National Association of Manufacturers calling for a U.S. president’s removal from office. So it feels a bit odd to suggest the U.S. manufacturing outlook for the year ahead appears, in fact, quite promising.
But that it does. Two recent surveys reveal increased investment and confidence. And Scott Davis, writing in the Wall Street Journal last month, makes a compelling case that “there is more reason to hope in manufacturing in 2021 than at any time since the 1990s” – with the potential for a quick recovery (in large part due to persistent demand, throughout the pandemic, for consumer goods), the reshoring of supply chains and technological advancements.
Our Top 5 Reasons Why British Companies Should Consider Manufacturing In the UK.
There have been countless articles full of doom and gloom in the media recently regarding the fate of British businesses and the economy in the wake of Brexit and the ongoing pandemic, with disrupted supply chains and border delays getting a lot of press coverage. As this angle has been covered extensively (and because we prefer to spread positivity) in this article we have decided to focus instead on the reasons why we still have hope for the future of manufacturing in the UK.
Manufacturing Can Be the Engine of Global Recovery – Here’s How
COVID-19 has given the world a sharp reminder that manufacturing and production sectors – and their enabling supply chain ecosystems – remain the most real and significant force in the global economy.
Before COVID-19, many in the developed world believed that our digital connectivity made us the global leaders in self-sufficiency – after all, what couldn’t we order online from the comfort of our own homes? However, when simple necessities like toilet paper and soap disappeared, not only from our online shopping baskets but also from our local grocery store shelves, the world began to realize how critical resilient supply chains are.