ABC News and Consumer Reports have both reported on the shift in our country of an increase in desire for American made goods. ABC’s series Made in America Christmas asked everyone to commit to spending just $64 on products made in America which could result in 200,000 new jobs. Consumer Reports National Research Center conducted a study that found some startling statistics including that 78% of Americans would rather buy products made here and 60% of all respondents said they would be willing to pay 10% more just for American made goods because the belief is that the goods produced here are of higher quality. Harold Sirkin of Boston Consulting Group has been surveying companies large and small about returning their manufacturing to the US. Many major companies including Whirlpool, GE Appliances and Ford at least 200 other companies with manufacturing formerly overseas (especially in China) have brought manufacturing back and all did so because economically it made sense.
How Does This Affect You?
When the larger companies bring their manufacturing back to the US, they’re doing it because it’s right for their bottom line. They often have shareholders to report to and when they can save money or keep costs even by manufacturing in America, then it becomes not only a financial win but also a public relations win for them which can attract new customers. Same holds true for small business. The cost for you to travel overseas and make contacts and get a factory going and hire someone to monitor the production in China or another foreign country often outweighs leasing equipment needed to manufacture here where you can manage the process locally.
Because the demand for American made goods is at a high not seen in several decades, we know that when you, the inventor/entrepreneur, go to make a “better mousetrap” in the US, you’re going to have a good chance at success for several reasons in addition to those cited by ABC and Consumer Reports. Many boutiques only allow goods that are American made and many national chains have pledged to offer more products made here. In some of those stores, locally made goods are promoted as such.
Why Are We Sharing This?
As the desire for more American made products continues to increase, we are seeing an increase in applications for manufacturing equipment leasing. As a locally based company with no overseas call center, we applaud and want to support businesses in the US who are manufacturing goods here. If you are an inventor looking to fund a new venture or manufacturer and are seeing an increase in the demand for your locally made goods and need to add equipment, we’d love to talk to you. Some of the types of manufacturing equipment that we’ve provided lease financing for include milling machines, conveyor belts, welding equipment, and assembly stations just to name a few. Give any one of our St. Petersburg, Florida based team members a call at 800-499-2577 and they will be happy to answer your questions and get you started on your equipment leasing application.