Manufacturing companies are approaching the next year with tremendous caution based on the results of the poll which showed a sharp drop in confidence about their business prospects. They understand the seriousness of a weakening economy and are more apt than several other of the industries tracked by the SBRB to feel the impact much deeper
NORTHFIELD, Ill. (PRWEB) October 12, 2007
The Manufacturing Industry Small Business Confidence Index (SBCI) declined to 38.33 or nearly two points from the 40.3 that was reported during the second quarter of 2007 according to the poll co-sponsored by International Profit Associates (IPA).
The current manufacturing industry SBCI is lower than the SBCI of 43 reported for all U.S. small businesses.
The lower Manufacturing Industry SBCI resulted largely from the change in revenue predictions. The poll tabulations showed that 45% are expecting revenues to increase during the next 12 months which is a seven point decline from the previous quarter. There was virtually little change in attitudes about the direction of the general economy or for hiring plans.
"Manufacturing companies are approaching the next year with tremendous caution based on the results of the poll which showed a sharp drop in confidence about their business prospects. They understand the seriousness of a weakening economy and are more apt than several other of the industries tracked by the SBRB to feel the impact much deeper," said Gregg M. Steinberg, President of International Profit Associates.
More than 800 small business owners participated in the nationwide poll. The universe of participants is developed from among small businesses across the United States. The SBRB study is a voluntary survey conducted quarterly.
The Small Business Research Board ascertains and reports the opinions of small business owners and managers on a wide variety of topics related to their own businesses as well as national and international issues that may impact their operations. The SBRB conducts these studies for the benefit of small business owners and managers. The SBRB also provides opportunities for third parties to gain real time insight into the attitudes of small businesses nationwide through the independently conducted research.
The latest information about the Small Business Research Board can be found at http://www.ipasbrb.com.
International Profit Associates, Inc. (IPA) is the largest privately-held provider of management consulting services to small and medium-size businesses in North America. IPA and its more than 1,800 professionals offer a wide range of proven and innovative methodologies to help businesses grow and prosper regardless of the economic cycle. IPA either provides directly or through its affiliated companies a comprehensive array of business advisory services, tax and estate planning services or merger, acquisition and other financial advisory services in the United States and Canada. More information about IPA can be found at http://www.ipa-iba.com.
(a) numbers may not equal 100 as a result of rounding
Copyright 2007 Small Business Research Board (SBRB)
For more information about this poll, results of previous studies or other matters related to the SBRB, please contact Raymond D. Minkus, (847) 441-4192.