New PMMI Infographic Highlights Impact of Small to Medium Businesses in the U.S.
Small to medium sized manufacturers are making a big mark on the United States economy, job market and numerous vertical industries according to the newly released Small Manufacturers, Big Dreams! infographic from PMMI, The Association for Packaging and Processing Technologies.
With so many solutions on display at PACK EXPO International and Healthcare Packaging EXPO, small to medium size manufacturers are sure to find ways to apply new technology, achieve cost-saving efficiencies, boost output unexpectedly, discover new ways to drive their business forward and increase their bottom line.
While most manufacturing firms in the U.S. are quite small (98.6 percent with less than 500 employees and 75.3 percent with than 20 employees), 30 million small and medium businesses (SMBs) account for two-thirds of new private sector jobs.
More than half of SMBs (77 percent) report increases in revenue over the last 12 months. In the previous two years, small business owners have invested in software and computer systems (48 percent), digital record-keeping systems (37 percent) and e-Commerce capabilities (20 percent). On top of that, 70 percent of middle market companies plan to invest in information technology (IT), plants and equipment.
SMBs have a strong presence across numerous industries, representing 46.4 percent of food manufacturing establishments, 53.3 percent of pharma manufacturing establishments and 46.4 percent of personal care manufacturing establishments.
Bringing together 2,500 exhibitors and 50,000 attendees (from more than 125 countries) over 1.2 million net square feet of exhibit space from virtually every vertical market, PACK EXPO International and co-located Healthcare Packaging EXPO (Oct. 14–17, 2018; McCormick Place, Chicago) is indisputably the year’s most comprehensive packaging event on the continent—and the one that powers innovation like no other.
Don’t miss your chance to see machinery in action–register for PACK EXPO International and Healthcare Packaging EXPO.