Home / Knowledge / News / Apparel/Garments / 98.6% of US manufacturing firms small businesses: SCORE

98.6% of US manufacturing firms small businesses: SCORE

28
May '19
Pic: PR Newswire
Pic: PR Newswire
New statistics gathered by SCORE, a non-profit organisation offering free business mentoring services to small US businesses, reveal 98.6 per cent of US manufacturing companies are small businesses and 75.3 per cent of those have fewer than 20 employees. Manufacturing businesses drive the US economy, said SCORE chief executive officer Ken Yancey.

Manufacturing businesses generated 11.6 per cent of the US economic output last year and employed 8.5 per cent of the US workforce, but 89 per cent of manufacturers reported they cannot fill all job openings, according to a press release from SCORE.

Top reasons cited include shifting skill sets due to advancing technologies, misperceptions of manufacturing jobs and retirement of baby boomers.

Manufacturing businesses create products from raw materials or components, either by machines or by hand. These goods are made in plants, factories, mills and private homes.

Small manufacturing businesses comprise 22.9 per cent of total employment in the apparel sector, 18.4 per cent of employment in furniture and related products, 16.4 per cent of fabricated metal products, 15.2 per cent of wood products, 11.5 per cent of beverage and tobacco products, 8.6 per cent of machinery, 6.3 per cent of food, 5.6 per cent of electrical equipment, appliances and components, 5.3 per cent of plastics and rubber products, 5.1 per cent of computers and electronic products, and 2.8 per cent of employment in the paper industry. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Messe Frankfurt

Textiles | On 16th Jun 2019

Finished products to dominate at Intertextile Shanghai

Finished product suppliers will dominate with their presence among...

Pic: CBRE

Textiles | On 16th Jun 2019

23% of warehouse leasing in India in 2018 for e-com: CBRE

Warehousing space leasing in India rose by over 45 per cent in 2018...

Pic: Amazon

E-commerce | On 16th Jun 2019

Amazon invests ₹2800 cr in India after closing China ops

Amazon has made a fresh investment of ₹2,800 crore in its Indian arm, ...

Interviews View All

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Veronique Lee, Modavanti

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Cem Erdogrul,

Cem Erdogrul

Turkey-based Temsan Air Engineering is one of the leading manufacturers of ...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search



Expand Close