From upgrading facilities to buying technology, industrial companies are confidently investing in their businesses to build upon a period of sustained growth, according to the results of ThomasNet's Industry Market Barometer (IMB).
Nearly half (45%) of the companies responding report growth over the last six months of 2010, and 88% of those are confident in their future expansion. The survey reveals a set of specific strategies that fueled this growth, from customer retention efforts to movement into new markets and product development. Bolstered by the results of these strategies, respondents are investing more in their companies and recruiting talent in anticipation of increased customer demand.
Nearly 3,400 professionals participated in the latest IMB, a survey of buyers and sellers of industrial products and services, most of whom represent small and midsize businesses. The research looks at their performance, outlook, and strategies for success. Respondents include business owners and managers, sales and marketing executives, engineers, and purchasing agents from manufacturers, distributors and service companies in North America.