2023 Marcum National Manufacturing Survey Report

marcumllp.com

9

75%

Workforce recruitment is a critical issue for those surveyed

Economic Anxiety Rising Only Slightly

When asked about a potential recession, 74% of respondents said they were managing cash flow, which is a prudent practice, but needs to be balanced by meeting hiring needs, investing for growth, and potentially making acquisitions. The next-largest response was 58% saying they were increasing planning, followed by managing capital. Interestingly, 45% said they were increasing sales and marketing, indicating an aggressive stance and showing confidence in the resilience of both the economy and their companies. Nonetheless, there were clear indications of belt-tightening throughout the survey, most notably in a fairly sharp reduction in planned increases in workforce sizes.

What actions are you taking to prepare for a potential recession?

What actions are you taking to prepare for a potential recession? (Select all that apply)

9% 8%

20%

58%

Increasing Planning Managing Capital Using a dashboard to track early warning indicators Boosting Sales & Marketing We are not preparing Managing Cash Flow Other

45%

74%

51%

Increase planning Managing capital

Managing Cash Flow

Boosting sales and marketing

Using a dashboard to track early warning idicators We are not preparing Other (please specify)