During the economic recovery, many American manufacturers focused on streamlining their businesses and reducing costs in order to stay afloat. Growth was limited, and companies that used the financial services of factoring companies were able to address shortfalls. While other companies struggled to stay in business, they were able to fund expansion sooner than their competition because they had already addressed financial constraints.
Fortunately, since mid-2009, the outlook for manufacturing companies in the United States has continually improved, and the manufacturing sector is optimistic about growth that was seen in 2015. Revenues are expected to increase in the following manufacturing sub-industries:
• Food and Beverage a Products
• Furniture Products
• Computer and Electronics Products
• Fabricated Metal Products
• Non-metallic Mineral Products
• Paper Products
• Chemical Products
• Transportation Equipment
• Textile Mills
• Plastics and Rubber Products
• Electrical Equipment, and
• Appliances and Components
Although the U.S. manufacturing sector was hit hard by the recession, many worked to streamline their business models and stay competitive. Many manufacturing companies that were denied financing by traditional lenders during and after the recession are now switching gears. Ready to grow their businesses, businesses are using the services provided by invoice factoring companies because they need flexible funding and dependable capital sources in order to grow.
Many manufacturing companies, were solely focused on becoming leaner and meaner during the recession and recovery, have found an ideal financing solutions to fuel expansion through invoice factoring. Looking ahead for 2016, 67% of manufacturing executives in a recent survey reported that they expect revenues to grow in the coming year. The big question is how are these manufacturers going to finance their growth?
Our answer is simple. Invoice factoring. Give us a call at (800) 405-6035 to get started today.