As you're probably aware, this hurricane season was especially bad and inflicted some major damage. The impact of these storms was felt not only by the states directly impacted, but through all 50 states and even some other countries.
If you own a manufacturing company, you are probably aware of the lack of skilled labor in the industry. It might even be one of those things that keeps you up at night, with your mind working overtime trying to solve the skills gap issues for your business.
If you have been in business for a while, this fact won’t surprise you. Less than 50% of manufacturing startups make it past the four-year mark. This is not usually because of the owner or founder’s lack of knowledge in the industry. Instead, it most likely comes down to cash flow.
It is almost that time of year again—year end. During my time working for various manufacturing companies, it always seemed to surprise managers that the year was coming to a close. Suddenly, it would be two weeks before the end of the year, and we would have to rush to get our annual reports and other stuff done. Don’t fall into this annual trap—plan ahead for the end of the year!