2021 Marcum National Manufacturing Survey

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THE 2021 MARCUM NATIONAL MANUFACTURING SURVEY

Most Companies Managed the Pandemic Well The onset of the coronavirus pandemic in early 2020 set off seismic changes that continue to reverberate throughout the world and across industries. Manufacturers, like everyone else, were forced to adjust to lockdowns, disruptions in supply chains, and deep economic uncertainty. The good news is our survey found that most companies have weathered this challenge with aplomb, adapting to “the new normal” and leveraging readily available bank financing and government assistance like the Paycheck Protection Program (PPP) and Employee Retention Tax Credits (ERTC) while riding an unprecedented wave of long-term macroeconomic growth. Overall Outlook Remains Positive The effect of all that growth is general confidence looking ahead. Despite a very tough road since the pandemic began, a remarkable 77% of respondents were optimistic about the coming year, while just 3% felt pessimistic. Although many manufacturers are wary of potential issues related to taxes, the pandemic, competition, and other challenges, we were pleased to see most respondents had a positive outlook. FINANCIAL OVERVIEW

80% expected higher revenues in the coming year

77% were optimistic about the coming year

60% reported lower revenue in COVID- impacted 2020 versus 2019