The Financial Times does a good job of previewing a report being released today here at the National Association of Manufacturers, a project of the Manufacturing Institute and RSM McGladrey, on how small and medium-sized manufacturers can improve their performance all up and down the value chain — especially by reaching abroad.
The beleaguered US manufacturing sector is in danger of suffering another blow, with nearly one in three companies at risk of going out of business unless they engage more with the global economy, the sector’s trade body will warn today.
A survey of small and medium-sized US manufacturers – co-sponsored by the National Association of Manufacturers and RSM McGladrey, the consultants – found that about 30 per cent reported no sales outside the US and do not purchase any materials or components internationally.
More than 60 per cent said less than 10 per cent of their sales or their components came from abroad.
“These manufacturers are at risk,” said John Engler, president of Nam. “If they don’t get into the international marketplace, they’ll find it increasingly difficult to survive.”
More on this after the news conference.
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