Signs of an economic recovery in the manufacturing sector are slowly emerging, pointing the way toward what many consider the ultimate sign of recovery — job creation.
The most recent indicator signaling improvement within the manufacturing sector was a higher than anticipated rise in the Institute for Supply Management’s Purchasing Manager’s Index — its highest reading since April 2006. The Index tracks a variety of indicators, including new orders, inventories and production, to arrive at a number that represents the rate of growth or contraction in the market.
With the impact of the recession still fresh in their minds, many companies are choosing to respond to this new growth using their existing staff rather than adding new employees. One option for addressing this challenge is through the acquisition of new, productivity-enhancing equipment.
New equipment can help a company meet its orders with its existing staff, which in turn can increase profitability and eventually help lead the way toward expanding their business.
As we all know, however, financing new purchases has gotten a lot tougher over the past 18 months. In response to the difficulties that many companies face in obtaining credit, some equipment manufacturers, including Miller, are offering financing programs at very favorable interest rates.
How do you plan to respond to an improving economy and increases in orders? Will you look to purchase new equipment before adding to your payroll? Do you expect difficulties finding financing for your purchases? Share your thoughts on this subject by posting a comment below.
More information about Miller’s 0% financing program can be found here.
