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In the year 2019, small manufacturing businesses and their owners have thrived, as well as had to face numerous issues. But lo and behold, it turned out for the best.
The challenges you face as a small manufacturing business help you grow even larger, as with any business big or small.
Small business manufacturing companies are some of the top providers for many things that other larger companies and chains just simply aren’t.
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There are more jobs available with small businesses as compared to large corporations, and most of the companies out there, whether they look big or not, are actually usually just small fish in a big pond when it comes to manufacturing.
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In 2019, many small manufacturers are rising in the markets of things like 3D printed items, drones (both for civilian and surveillance purposes), as well as things such as artificial intelligence.
Artificial intelligence is another new market (especially in the medical profession) that has been starting to make a huge impact.
The makers of Pediatric HAL have reached a breakthrough that may just make their business jump out of the “small business” pages in the medical manufacturing field with their new AI.
Along with this robotics are numerous surgical robots that can be programmed to do certain procedures, whether they are remotely controlled, or fully programmable to operate with software and algorithms (scary thought right?).
The Skinny on The Shutdown
Despite the government being shut down at the end of the 2019 year, while there are numerous businesses that have begun to still be affected and hit hard by the shutdown, there have been numerous businesses that weren’t affected, or in general they were lacking on funding, but still thrived.
If you are a small business owner, keep pushing and you’ll be achieving your goals, no matter what setbacks are brought forth to you.
The Secret List
Here are some things which can help your business get back to where it belongs or have a high manufacturing standard of quality.
- Manage your inventory well. Check supplies frequently, and make sure that you don’t have a bunch of overstock or dead stock just lying around. Don’t invest too much in inventory. You can easily buy it as you need it.
- Take a good look at your employment practices with good ethics. If you have high employee turnover, simple changes in your hiring process or positions available can make a huge impact to lower this.
- Enhance your small business’s manufacturing with a powerful website, blog, social media posts, and build a strong online presence for your company. If it’s done right, you can even exceed expectations on financial levels and increase your revenue above other corporations and competitors in no time.
- If you’re manufacturing a product, simply look into e-commerce solutions for your business. You’re the one making the product, so learn alternative ways to market it other than just a store. In the year 2019, online shopping is predicted (and has already been rising) to be the major way that people shop. Compare that to the year 2005 when there were just “starting businesses” and e-commerce started to take off more. Now every small business can succeed with online stores and proper e-commerce solutions.