March 1997, Volume 14, No. 3 Would You Do It All Over Again?

Nearly 40% of owners of manufacturing firms say they would start another manufacturing company if they were ever forced to close or sell their current company. Another 22% would consider going to work for another manufacturing firm as a second choice, and 3% would retire. The balance, 37.5%, would consider options outside of the manufacturing arena. This, according to a recent survey conducted by George S. May International Co. (Park Ridge, Ill.), a management consultancy. The survey polled owners of more than 1,000 small and medium-size businesses in the U.S. and Canada.

"Owners of manufacturing firms identify strongly with their industry," said Donald Fletcher, president of George S. May International. "They like the process of seeing products come together, from raw material through to finished product, and stay close to their suppliers, distributors and customers. They take great pride in what they produce."

CEOs in the health care field were the only others who expressed the same type of loyalty to their industry, with 37% saying they would start a new business in the same field. The retail business ranked lowest in the survey.