It’s no secret that we offer a diverse array of services at STEWART Industries. We’re big fans of the idea that you need to adapt to survive.
Now, in the wake of COVID-19, it’s even more necessary than ever to consider your options when it comes to diversifying your business. Sticking to one industry will limit your growth and may jeopardize your success.
A Slowing Economy
We’ve been in the manufacturing industry for over 20 years. In that time, we’ve seen a lot of ups and downs. It isn’t news to us that the manufacturing industry is reaching the worst lull in over a decade.
For a lot of manufacturers, this is cause for alarm. Their “bread and butter” is being threatened, and they’re seeing profits drop as a result. Couple this with the productivity that was lost during economic shutdowns, and it seems inevitable you’ll be dipping into the red.
So, what do you do? You have to look at different options to stay afloat.
Our team has always been resourceful. We’ve branched out over the years from automotive manufacturing to aerospace and everything in between. With the shortage of productivity for many manufacturers, we’ve also been able to offer a secure, contained area for subassembly and quality inspections.
Still, to stay thriving, we’ve moved beyond those offerings. We offer a Foreign Trade Zone Division, because we know that so many small businesses need ways to save money now more than ever. Tariffs and duties cut into profits during a time when margins are incredibly slim. Our FTZ services can help mitigate that hit so businesses can continue to thrive.
We’re also helping to keep the industry moving. STEWART Industries is ISO 13485 certified, which means we can assist with assembly and logistics for medical devices. At a time when every company needs personal protective equipment (PPE) to keep their workers safe and boost productivity, it seemed like the right service to offer. It also helps promote growth throughout the manufacturing industry, as more and more workers are able to work in safe and healthy conditions.
Diversifying is the key to growth. If you’re interested in learning more about our services, reach out to us. Now, more than ever, we need to band together to help each other survive and thrive.