Survey sees better days ahead
Results from the Architectural Woodwork Institute’s Cost of Doing Business Survey suggest an improving environment among architectural woodwork business owners.
In contrast to previous years, business-condition sentiment is favorable at 74 percent, while capital investments are up in the last 12 months.
Thirty-nine percent of high-profit firms invested $100,000 or more in the last 12 months and 21 percent plan on investing $100,000 or more in the next year, according to the results. Thirty-six percent of the respondents also plan on increasing their workforce by 10 percent or more in the next 12 months.
Among the manufacturing respondents, 53 percent have been in business 25 or more years, 38 percent have annual revenues in excess of $5 million, 45 percent have 30 or more employees, and 30 percent outsource their installation completely to contractors.
The 2013 AWI Cost of Doing Survey and Compensation Study Report is free of charge to all participating AWI manufacturing members, while non-participating members receive a complimentary executive summary.