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10 Manufacturing Small Business Ideas

Manufacturing added $2269.2 to the US GDP, resulting in 10.8% of the total GDP in the USA. Undoubtedly, manufacturing plays a vital role in the economy of the US and other countries in the world. Small businesses are a dominant force in the manufacturing industry, as more than 98% of US manufacturing companies are small businesses.

Before getting into manufacturing, business owners must consider some factors:

  • The products in demand
  • Start-up cost
  • Level of knowledge
  • Business location
  • Availability of raw materials and workforce.

These factors affect the growth and productivity level of any firm.

The high level of competition in the manufacturing industry pushes small businesses to brainstorm ideas to penetrate the market. This article will recommend manufacturing ideas based on statistics to help small enterprises to kickstart their companies and succeed in the manufacturing industry.

Top 10 manufacturing Small Business Ideas

In a highly competitive environment, new businesses with a unique philosophy, brilliant strategies, and innovative ideas will likely be successful. There are over a hundred business ideas to ponder over, but the mind-blogging task is to figure out which of them is in hot demand in the market. Here are the top ideas for small businesses:

Tea

Tea is the second most widely consumed beverage in the world. In 2022, the tea market will generate a revenue of $14,168.4 million. The tea market will grow annually by 4.10% within the next three years. Additionally, a recent survey suggests that afternoon is becoming a significant trend in 2022. Many drinkers will be demanding tea to quench their taste.

If you’re a tea lover, you’ve got a million dollars industry in your hands. You can combine different leaves and perhaps develop the next best-selling tea brand. Despite having six significant categories, you can blend tea leaves into different variations and flavours—the numbers are unlimited.

Step into the tea market, explore different leaves, request feedback and take advantage of this easy small business idea.

Microbrewing

Microbrewing is among one of the best business ideas. Beers are a significant part of the American tradition. The USA occupies the second position in global beer production with 211 million hectoliters volume. Craft beers are available in many pubs. Nevertheless, craft brewing or microbrewing requires comprehensive knowledge, the right equipment, and licensing from respective bodies. Understanding the process will help you mix flavours and ingredients to produce a unique brew. You can run ads on the internet to market your product.

Grape wine production

A survey shows that 75% of adults drink wine. Wine is mainly consumed because of its taste and the good feeling it gives to the body. Grape wine production is a lucrative manufacturing idea for small businesses. If you love wine so much, perhaps it’s time to turn your interest into fortunes and create your unique label.

However, grape wine production is not challenging as people think. Understanding the varieties of grapes and flavours they produce is the first step to starting wine production. Learning the finest ways to source them according to your standards and taste would be beneficial. You can spend years growing your own vineyard, or visit local vineyards or wine dealers to model, pick, and buy grapes that offer your desired taste and quality.

Wine production requires extensive knowledge and a production facility. However, the presence of custom crushers in the market makes it a lot easier. These crushers provide the equipment needed to produce and bottle your product. They also offer skills and partnerships for those interested in reducing their costs.

Cosmetic and skincare

The cosmetic and skincare industry is extremely valued worldwide. It generates $49.2 billion yearly because of the high demand for personal care and beauty products. Skincare products occupy the market’s largest segment. The public is increasingly interested in natural, earth-sourced, and chemical-free products because of their little to no side effects on the body. Producing natural skincare products is a win-win for you and your potential customers.

You need to define your mission and determine your niche to penetrate the market. Source ingredients and package products that mirror your brand. Many platforms are available to help out the process. You can test your products in your home, obeying the lab-grade sterilisation process. If you have enough cash, you can outsource to many labs specialising in beauty.

Fashion

From 2020 to 2025, the value of the global apparel market is estimated to grow from $1.5 trillion to $2.25 trillion, thanks to the increase in the demand for clothing and shoes around the world. If you love fashion, you are one step away from converting your interest into money. To succeed in the fashion industry, one must not necessarily be into design or sewing. You need to develop a desire, style, mindfulness about what’s going on in the fashion scene, and high creativity before starting up your label. You can begin customising artworks on people’s clothing if you have graphic design skills.

Jewellery

Jewellery has become an essential part of dressing accessories, as new designs and fashion trends attract customers. In 2018, the global jewellery market was valued at $ 278.5 billion and is expected to grow in subsequent years. If you are an artisan, you will have an edge in the market. You can easily partner with trustworthy suppliers. Upgrading your tools and equipment will help improve your productivity level.

If you love and enjoy playing with kids to keep them happy, you’ve got a potential audience in your hands. According to Statista, the toy industry generated a revenue of   $94.7 billion in 2020. Since 2010, the toy market has been growing by over 13%. Creating and designing toys for kids is a rewarding business. You can pick inspiration from popular kid’s cartoons, superheroes, sports, dolls, aviation—the list is unlimited. You need to choose a concept, draft your idea, and refine it until it becomes a reality as you planned.

CBD products

Suppose you’ve applied CBD oil to tackle your health challenges. In that case, it’s time to consider venturing into producing products related to these magical plants. Sales of CBD products in the USA reached $4.6 billion in 2020. In the next six years, the value of the CBD market is estimated to clock $16 billion because of its health benefits. You can start producing CBD products by trying different formulations and figuring out the best delivery system. You can also source ingredients from reputable suppliers. The opportunities in the CBD market are overwhelming.

Candles

During romantic picnics and festive periods, candles are valuable accessories. In 2019, the market value of candles was $3.54 billion. The market value of candles is expected to clock $6.64 billion in eight years. The candle-making process is straightforward and requires low start-up capital. You can purchase basic supplies online. Candle production is an easy small business idea that yields good money.

Phone covers

Like mobile phones, phone accessories are highly rated. In 2020, the worldwide mobile accessories market value was $202.45 billion. The phone accessories market is expected to grow with a CAGR of 4.5% within the next nine years and clock $328.70 billion by 2030 because of mobile phones’ high acceptance and usage. Phone covers allow phone owners to reflect their personalities. Before launching your phone case line, you need to develop an innovative design concept that reflects recent trends and interests.

Conclusion

Many opportunities are available in the manufacturing industry. All you need is the right, successful business idea that suits your interest. It would help if you enquired about the start-up cost, demand rate, availability of raw material, and level of competition in the market. The key to success in the manufacturing industry is to create a unique product, model it to the best standards, and collaborate with the right producer who supports your process, quality, values, and expectations. We hope you find this article helpful in your quest to grow your business!

About the Author

Alex Lysak is a CEO at SeoBrothers team. He has over ten years of experience in online marketing. He is passionate about building a solid iGaming affiliate team. He aspires to become number one in this niche worldwide.

7 Interesting Facts You Didn’t Know About The Aerospace Industry

The aerospace industry is a massive field that has many different aspects to it. People often think about the big airplanes and rockets when they hear the word “aerospace,” but there are so many more components of this industry that you may not have been aware of before.

In this blog post, we will discuss 7 facts you didn’t know about the aerospace industry, including how it impacts your life daily.

The Industry Is Growing

The aerospace industry is growing rapidly, with new companies and products emerging all the time. The global market for aerospace products and services is expected to grow from $643.73 billion in 2017 to $777.68 billion by 2022. This growth is being driven by several factors, including rising demand for air travel, the increasing popularity of drones and other unmanned aerial vehicles (UAVs), and the development of advanced new technologies. AS9100C certification is also helping to fuel the growth of the aerospace industry, as more and more companies are seeking to meet the rigorous quality standards set by this internationally recognised standard. When it comes to the as9100 audit, these companies are required to provide proof of their R&D efforts, as well as their commitment to quality and safety. Aerospace companies are also investing heavily in research and development (R&D), which is helping to fuel this growth. For example, Boeing spent more than $14 billion on R&D in 2017, while Airbus Group invested over €13 billion ($15.24 billion) in R&D during the same year.

A Competitive Industry

The aerospace industry is one of the most competitive in the world. The top companies spend billions a year on research and development to gain an edge over their competitors, which means that if you aren’t investing as much as possible into your business, it can be difficult to keep up. In addition, many organisations have been around for decades so they have well-established connections within the industry (and sometimes even illegal connections).

Additionally, the aerospace industry is highly regulated. There are countless rules and regulations that companies need to follow to stay in compliance, and any mistake can be costly. This also makes it difficult for new businesses to enter the market, as they need to make sure they are up-to-date on all of the latest regulations before starting operations.

Dynamic and Diverse Field

The aerospace industry is a dynamic and diverse field with many opportunities for engineers, scientists, and technicians. There are many different types of jobs in the industry, from designing aircraft to maintaining and repairing them.

Many different companies work in the aerospace industry, including large manufacturers like Boeing and Airbus, as well as smaller companies that specialise in certain aspects of aerospace engineering. This variety makes it an exciting place to work and ensures that there are always new challenges to tackle.

The Most Important Sectors In Terms Of Economic Output

The aerospace industry is very important to the world economy, which makes sense when you consider how many sectors are affected by it with everything from airlines to engine manufacturers being heavily influenced by what happens in this area of technology. Also, because we need a relatively functional and efficient means of transportation that can be used for both people and cargo then there will always come about new developments that improve on these areas as well as other factors like safety and fuel efficiency. This makes the aerospace industry one of the largest employers in terms of GDP created, which is why it’s so important to focus on this area if you are interested in finding a career that will always be needed.

NASA Is a Huge Consumer of Aerospace Products

NASA is a huge consumer of aerospace products and services. The agency spends about $17 billion annually on space-related activities. This makes NASA one of the world’s largest purchasers of aerospace goods and services.

A large portion of this spending goes towards contracting commercial providers to transport astronauts and cargo to and from the International Space Station. NASA also relies on private companies to develop new technologies for use in space exploration. This reliance on commercial providers has led to a surge in innovation within the aerospace industry, as businesses compete for contracts from NASA. This increased competition has resulted in lower costs and faster turnaround times for new technology development.

Impacts Your Life Daily

Did you know that the aerospace industry impacts your life daily? From aircraft to drones, aerospace products are everywhere, and they impact you daily. Drones are being used more and more for civilian purposes like package delivery, infrastructure inspection, and search and rescue. Aircraft noise is regulated by the Federal Aviation Administration (FAA) to protect people on the ground from excessive noise levels.

As the world becomes more globalised, it is important to remember that aviation helps connect people worldwide through trade and tourism. The aerospace industry provides products necessary for these activities such as airplane engines, avionics equipment (in-flight entertainment systems), lighting equipment used in airports, airport construction services, cargo transport vehicles (planes), security equipment (metal detectors) needed at airports, plus many other goods essential for supporting international travel.

Many Aerospace Careers Are In High Demand

Aerospace careers are in high demand due to the growing industry. There are many different types of jobs within the aerospace industry, and they all offer great salaries and benefits. If you’re looking for a challenging and rewarding career, then the aerospace industry may be perfect for you.

One of the careers you can choose from is an aerospace engineer. Aerospace engineers design and develop aircraft, spacecraft, and missiles. They also work on the systems that support these vehicles, such as engines, controls, and communications. Aerospace engineers usually have a bachelor’s degree in aerospace engineering or a related field. However, some employers may require a master’s degree. Another career option within the aerospace industry is an air traffic controller. Air traffic controllers direct the movement of aircraft in the sky and monitor their safety. They must be able to think quickly and make decisions under pressure. Air traffic controllers typically need a high school diploma or equivalent and they must pass a rigorous training program.

The aerospace industry is fascinating and complex, with a long and storied history. It’s always exciting to learn new things about it, and here are seven interesting facts that you might not have heard before.

What Does The Evergrande Group Debt Crisis Mean?

Evergrande is the second largest property developer in China by sales. As the COVID-19 virus spread across China in the early months of 2020, some expert commentators dubbed it as China’s “Chernobyl moment” – an event that would undermine the legitimacy and rule of the Communist Party.

A much more likely candidate for that title has emerged, though, in the form of the debt crisis enveloping Evergrande Real Estate Group.

China’s second largest property developer and the most indebted developer in the world with over $300bn of liabilities is out of money, and unable to meet interest payments due to both banks and foreign bondholders — though it was reported on Wednesday 22 September that some agreement has been reached to meet an interest payment to domestic bond holders.

Evergrande Real Estate Group is also a kind of metaphor for the wider debt crisis in the Chinese economy. Material consequences for both China and the global system are sure to follow in the coming months.

The immediate problem is the unravelling of Evergrande Real Estate Group, which owns more than 1300 properties in more than 280 cities across China. Until now, the Chinese government has refrained from stepping in, choosing instead to make an example of Evergrande’s “capitalist excesses” to banks and others as a way to encourage more conservative methods.

Yet some sort of state bailout or restructuring is inevitable for the developer, at least to buy time. Otherwise, the financial contagion, and economic and social instability consequences of a messy default, would be catastrophic for Xi Jinping, especially ahead of the important 20th party Congress in November 2022.

Consider that much of Evergrande Real Estate Group’s liabilities comprise pre-sale deposits by almost 1.5 million households, all of which would see their savings lost. Evergrande’s employees and others bought financial products that it issued to help fund itself, and they too would risk losing money in a worst case scenario.

The Chinese government will not want unhappy citizens to be on the hook. We expect that rather than a spectacular “Lehman-type” crisis, China will go through a period of financial distress, which will postpone growth.

Provisional Job Stability of Disabled Employees due to Pandemic

A pandemic is an epidemic of an infectious disease that has spread across a large region, for instance multiple continents or worldwide, affecting a substantial number of individuals. A widespread endemic disease with a stable number of infected individuals is not a pandemic.

At the end of 2019 and beginning of 2020, the world observed the disastrous trajectory of the Sars-Cov-2 Coronavirus, which infected thousands of people in the city of Wuhan, China, and spread to several provinces in that country, and then around the world.

In Brazil, the Ministry of Health published, on February 3, 2020, Ordinance no. 188/2020, which declared a Public Health Emergency of National Importance, due to Human Infection by the new Coronavirus.

On February 6, 2020, Law no. 13.979/2020 was published, containing measures for countering the ESPIN, due to the outbreak of the virus. The Law has suffered subsequent changes.

On March 11, 2020, the Director-General of the World Health Organisation, Tedros Adhanom Ghebreyesus, declared the existence of a pandemic, resulting from COVID-19, motivating the Brazilian National Congress to establish a state of calamity, until December 31, 2020, through Legislative Decree no. 6/2020. A series of Provisional Measures were issued in order to counter the pandemic.

One of the MPs was no. 936, converted, on July 6, 2020, into Law no. 14.020/2020, which created the so-called Emergency Program for the Maintenance of Employment and Income, and provided, in article 1, for complementary measures to combat the public health emergency caused by the coronavirus.

When MP no. 936 was converted into Law 14.020, article 17 was introduced, which prohibits the unjustified dismissal of disabled persons while the state of calamity persists. This category of employees was not singled out in the texts of the MP or of Law 13.979/2020 and its subsequent amendments.

It is an undoubted fact that persons with disabilities deserve differential treatment, in order to provide them with protection and ensure their inclusion in society and in the job market, as in Law no. 8.213/91, which provides for the mandatory hiring of these persons, pursuant to a pre-established quota.

Portaria no. 188 of February 3, 2020, of Ministry of Health, accessed on February 10, 2021. (Click here to read.)

Note that the social security legislation imposed, on a permanent basis, an obligation on the employer to hire a certain number of persons with disabilities, unlike article 17 of Law no. 10.020/2020, which guarantees protection to this group of employees only for the duration of the state of calamity due to the COVID-19 pandemic.

However, the state of calamity, which is the subject of Legislative Decree no. 06/2020, was not extended by the National Congress and, furthermore, Justice Ricardo Lewandowski of the Federal Supreme Court, when hearing Direct Unconstitutionality Action no. 6.625 MC/DF, maintained the validity of a number of articles of Law no. 13.979/20, but made no reference to the provision dealing with persons with disabilities. From this standpoint, there would be no question of stability of employment for this category of employees.

On the other hand, termination, on December 31, 2020, of the validity of Legislative Decree no. 6/2020, to which Law no. 13.979/20 is linked, unfortunately did not put an end to the state of calamity and the hardship imposed by the Sars-Cov-2 Coronavirus, reported on a daily basis by all the media. On the contrary, Brazil still faces great difficulties in combating COVID-19, which takes the lives of hundreds of people every day, and incapacitates many others.

This fact was stressed by Supreme Court Justice Ricardo Lewandowski, in the decision rendered in ADI no. 6.625 MC/DF. He considered that it was prudent and advisable that the exceptional measures contained in Law no. 13.979/2020 be maintained to combat the pandemic. The STF also ruled that the States may, through their Legislative Assemblies, decree the maintenance of the state of public calamity, as done by Minas Gerais, Paraná and Tocantins, besides several Brazilian municipalities.

Another question comes up. In view of the state and/or municipal decrees, which extend the state of public calamity, is it possible to maintain the employment of persons with disabilities, as provided for in item V, article 17, of Law no. 10.020/2020.

The exclusive competence of the Federal Government to legislate on Labour Law, provided for in art. 22, I, of the Constitution of 1988, prevents state or municipal governments from doing so. However, in this specific case, the federal law exists and may be applied, in theory, since the state of calamity remains.

The discussion on the subject is still far from over, and, little by little, lawsuits are reaching the Courts seeking the reinstatement of persons with disabilities dismissed after the enactment of Law no. 10.020/2020.

We suggest caution, therefore, when dealing with this issue, taking care to verify possible collective rules issued during this period and that may have regulated the matter in a similar or even wider manner than the law under comment.

Renata Gallo Tabacchi Gava de Oliveira and Patrícia Salviano Teixeira
Associate lawyers in Labour Law Area – São Paulo
[email protected] and [email protected]

Challenges Remain for Industrials

The Industrials sector includes capital goods, commercial and professional services, and transportation. Disruption arising from COVID-19 has accelerated trends already apparent in the industrials market – particularly digitalisation and trade volatility – and transformation has gone from a “nice to have” to a necessity, according to the latest findings from Baker McKenzie.

The law firm surveyed 700 company leaders in six industrial sub-sectors in early 2020, and again at the end of the year after the pandemic had taken hold of the global economy.

Interviews with sector leaders highlighted renewed action and energy, with companies looking to acquire technology and reimagine systems, networks and services to thrive in future.

A License to be Bold: Transforming Industrials covers four areas of focus: adapting to the new market; digitalising for growth; disruption-proofing supply chains; and sustainability.

Nikolaus Reinhuber, Global Chair of Baker McKenzie’s Industrials, Manufacturing and Transportation industry group says, “Our findings show that disruption arising from COVID-19 has accelerated trends already apparent in the market – particularly digitalisation, trade volatility and the importance of sustainability – and transformation has gone from “nice to have” to necessity. There is a significant imperative to change, with greater stakeholder buy in and long-term viability outweighing short-term performance.

Those organisations that meet disruption with a bold and innovative vision and execute effectively on it, will be best placed to adapt and grow over the coming decades. The industry has an imperative to change and a new license to be bold – the stage is set for transformation.”

Chief Financial Officers Anticipate Growth & Lasting Change

Finance leaders expect a return to growth in 2021 with optimism rising to a record high, according to Deloitte’s latest chief financial officer survey. Despite the surge in business optimism, half of CFOs do not expect demand for their own businesses to recover to pre-pandemic levels until the last quarter of 2021 or later.

The Deloitte CFO survey for Q4 2020, which gauges sentiment amongst the United Kingdom’s largest businesses, took place between 2nd December and 14th December 2020, so before new COVID restrictions announced on 19th December and the Brexit deal on 24th December.

A total of 90 CFOs participated in the latest survey, including CFOs of 12 FTSE 100 and 44 FTSE 250 companies.

The combined market value of the United Kingdom-listed companies that participated is £308 billion, approximately 13% of the United Kingdom quoted equity market.

Revenues, risk appetite & economic landscape

There has been a sharp improvement in CFO expectations for United Kingdom corporates’ revenues this quarter with 71% expecting a rise over the next 12 months, up from 29% in Q3 2020, while over half of CFOs expect operating costs to rise. For the first time since 2015, a net balance of CFOs are expecting corporate operating margins to increase in the next year.

Risk appetite remains weak with only 19% believing it is a good time to take greater risk onto the balance sheet, however this is up from just 3% in Q1 2020.

Consistent with the idea of a return to growth CFOs’ expectations for inflation have risen markedly since Q3 2020. Over half of CFOs expect consumer price inflation to be at or above 1.6% in two years’ time, up from 36% three months ago.

While still showing a net negative balance, CFOs’ expectations for hiring, capital spending and discretionary spending have increased from the record lows seen in Q1 2020, with a strong uptick in each category in the last quarter. Expectations for hiring and spending are running higher than the levels seen between 2016 and mid-2019.

COVID & beyond

More than three quarters of finance leaders expect COVID-19 restrictions on movement and activity to continue through the first half of 2021, while 57% expect these measures to be removed permanently in Q3 2021.

CFOs believe that the pandemic is set to trigger a fundamental change in the business environment. An overwhelming net balance of CFOs expect flexible and home working to increase – with a five-fold increase in home working expected by 2025.

Similarly, 98% of CFOs expect levels of corporate and individual taxation to rise, two thirds anticipate higher regulation of the corporate sector and 59% see the size and role of government in the economy increasing.

The impact of Brexit

CFOs think a no-deal Brexit would have been a far greater risk to the economy and to business than the actual outcome of a trade deal. Moreover, they saw either Brexit outcome as having a greater negative impact on the economy than on their own businesses.

The large companies on our panel are more confident about their own ability to deal with Brexit than the wider economy’s.

Two thirds of CFOs saw a no-deal outcome as having a severe or significant negative effect on the economy and 18% expected a similarly negative impact on their own business. Just 20% of CFOs saw a trade deal as a major negative for the economy and this dropped to 7% in relation to their own business.

A majority of CFOs expect the post-Brexit points-based immigration system to act as somewhat of a drag on long-term economic growth. Around a quarter expect little or no effect, while 6% expect the new immigration system to support growth.

A net balance of 66% of CFOs expect both goods and services trade with the EU to decrease, while 77% expect a decrease in high-skilled immigration from the EU, with only 24% expecting an increase in skilled immigration from outside the EU.

Strategy & spending

CFOs remain in defensive mode with 49% and 46% respectively rating increasing cash flow and reducing costs as strong priorities. Meanwhile expansionary strategies have risen in popularity slightly since Q3, for example, around a quarter cite introducing new products, services or expanding into new markets as a priority for the year ahead.