In a speech titled, “Monetarism is not enough” in 1976, Sir Keith Joseph, co-founder of The Centre for Policy Studies along with Margaret Thatcher, spoke about sectors as state or private; subsidized or unsubsidized; and wealth-creating or wealth-consuming. Wealth-creating sectors include: manufacturing, construction, business services and trade; while some of the wealth-consuming sectors are government, state-supported social and education services, and healthcare. Up until about 1998, millions of jobs were being created in the U.S. manufacturing sector. Along came the turn of the century, however, and a different story began unfolding. Manufacturing employment started to decline and manufacturing establishments were being supplanted by service enterprises. According to an article in USATODAY (April 2007), over three million jobs were lost during 2000-2007 in the manufacturing sector.
The challenges facing the manufacturing sector are substantial. To stay competitive in a global market, those in the manufacturing sector must improve product development and quality along with reducing the costs of R&D; achieve on-time delivery; reduce time to market; and streamline regulatory compliance while reducing risk. Companies that can accomplish these initiatives will improve their opportunities in the global marketplace.
The consulting team at PathFinder Group can assist your firm in navigating the multiple challenges of owning a manufacturing company. They are experts in developing strategy and the scorecard to manage its implementation, improving process to leverage efficiency, overseeing implementation of IT systems and mitigating operational risk including entry into overseas markets.
Florida is friendly to the manufacturing sector and ranks among the top ten states for manufacturing establishments with over 18,000 manufacturers calling Florida home. Florida’s competitive costs, top-ranked trade and transportation infrastructure, talented workforce and low unionization rate can help you grow your business and your bottom line.
If your firm is considering a move to Florida, let the PathFinder Group provide assistance with compliance and regulatory issues. We can help you get connected to our manufacturing friendly state and all of its assets. Call us today for a consultation.