Each year, Schneider Downs collects insights from leaders in the manufacturing industry through our annual Manufacturers’ Economic Survey. This year, our survey participants shared their perspectives on a wide array of topics including: the 2020 presidential election, the COVID-19 pandemic and associated relief provisions, as well as the general state of the industry.
The 2020 survey results indicated that nearly 90% of participants felt the 2020 election will have some impact on their business in the coming years, with three-quarters of participants anticipating that taxes will increase in 2021. Additionally, as expected, the majority of the survey respondents were significantly impacted by the COVID-19 pandemic. Over 30% of survey participants’ businesses were shut down for some period of time, and over 75% enacted some form of cost-cutting during the year. Despite the devastating impact of the pandemic on the world, nearly all of our participants remain optimistic that their businesses will fully recover.
Review a full summary of the survey results as well as insightful articles from our professionals about the above topics, among others.
Thank you again to all of our survey participants!
