New York SBDC Research Network

By Tim Berry From Bplan Picture from Pixabay Industry analysis is part of good management. That’s not just for the business planning, but rather for business survival, beginning to end. Most of the people who successfully start their own business have already had relevant business experience before they start, most often as employees. Although all business owners need to know their industry, the documented details and explanations are mainly for when you’re writing a business plan you need to show to outsiders, like bank lenders or investors. You’ll need to do some industry analysis so you’re able to explain the general state of your industry, its growth potential, and how your business model fits into the landscape. And if your business plan is more of an internal strategic roadmap, you should still be very sure—whether you have to prove it to others or not—that you know your market, even if you don’t do a formal industry analysis. Whether you’re a service business, manufactur...

By Peter C. Earle From the American Institute for Economic Research You’re a construction company, an agricultural concern, or a manufacturing firm — all similarly unable to undertake infrastructure projects, fill freight trains with crops, or produce the countless scores of products the market seeks. This is exactly the situation the United States finds itself in now. And it is worsening. Last year, the Associated General Contractors of America reported that 80 percent of its 27,000 member firms are having a difficult time filling openings for hourly craft workers. And the crisis extends far beyond construction: in many subsectors of agriculture, home care, transportation, and manufacturing, the same phenomena are being reported. An estimated 8 million people, representing 5 percent of the entire U.S. workforce, are either fleeing or laying low. Each is reporting lower productivity, longer production times, higher explicit costs, and perhaps worst of all a massive explosion o...

Excerpt of an article by Megan Ray Nichols To read more, visit  Thomasnet "According to recent studies, approximately 2.6 million industrial robots will be active by 2019 — or one million more units than just a few short years ago. It's a record-setting pace that yields mixed reactions from the public. While some are skeptical of the role of robots in the future workplace, others are more than willing to embrace industrial robots and all the opportunities they provide in Industry 4.0. Big data is just as critical to Industry 4.0 as industrial robots. Many of these next-gen, AI-powered machines utilize advanced data sets to monitor day-to-day operations, provide recommendations, and even learn from their mistakes. Robots are especially popular in predictive maintenance. By monitoring the condition of production hardware and comparing it to recent trends, industry benchmarks, and manufacturers’ specifications, automated robots diagnose machines before they fail. This fun...

From Thomasnet Industry is no stranger to change, and today, several monumental shifts — in business, technology, and even politics — are changing it once again. As a supplier, it's imperative for you to understand these shifts in order ensure your success today, and tomorrow. Our eBook, The State Of Industry In 2018, can help you keep ahead of the latest trends. It explores: Critical changes in the manufacturing workforce The most in-demand products and services in 2018 The role that politics is playing within industry And more! Download your free copy now.

From The Independent : Millennials' preferences are killing dozens of industries. There are many complex reasons millennials' preferences differ from prior generations', including less financial stability and memories of growing up during the recession. “I think we have got a very significant psychological scar from this great recession,” Morgan Stanley analyst Kimberly Greenberger told Business Insider... “Millennial consumers are more attracted than their elders to cooking at home, ordering delivery from restaurants, and eating quickly, in fast-casual or quick-serve restaurants,” Buffalo Wild Wings CEO Sally Smith wrote in a letter to shareholders earlier this year... Beer penetration fell 1% from 2016 to 2017 in the US market, while both wine and spirits were unmoved, according to Nielsen ratings.

Interesting new information from the Bureau of Labor Statistics Where should new graduates look for jobs? What about career changers? In what direction should career counselors and job placement programs direct clients? Which statistics can government officials use to help determine how to stimulate job growth? How do employers know if their turnover and worker demands are typical? Industries differ in employee turnover patterns, demand for workers, and ability to hire the workers they need. Understanding the labor turnover characteristics of the different industries may help jobseekers, those assisting them, employers, and government officials better focus their efforts. Each data element in the Job Openings and Labor Turnover Survey (JOLTS)—job openings, hires, and separations—provides information about the labor market. However, when all three data elements are studied together, an even more informative picture emerges. The job openings data tell us about the unmet demand for wor...

The computer industry is the most liked business sector by Americans, according to a recent report from Gallup. The report was based on data from a Gallup poll conducted in August 2015 of a random sample of 1,011 adults.... Some 69% of respondents say have a positive view of the computer industry, and only 10% say they have a negative view. Other industries with high net scores (positive rating minus negative) are the restaurant, Internet, grocery, farming, travel, accounting, and retail sectors. The federal government is the least liked sector (-29 net score), and the oil and gas industry is the second least liked (-13). Read more Marketing Profs

The following list comprises the most distressed industries in the US economy, curated using IBISWorld’s proprietary database. The industries are ranked by the fastest anticipated annualized rate of decline in the number of industry enterprises over the five years to 2020. Operators in most of these industries contend with mounting pressure from disruptive technologies, overseas competition and shifting economic forces. In turn, a pronounced number of companies in each industry have opted to consolidate or end operations entirely. This cursory overview of IBISWorld’s Top 8 Most Distressed Industries demonstrates the qualitative and quantitative application of IBISWorld’s research reports for investors. DVD, Game & Video Rental Industry Projected annualized enterprise decline (2015-2020): -15.1% IBISWorld expects operators in the DVD, Game and Video Rental industry to experience the greatest number of business closures of any industry within the economy over the next five year...

Years ago, when I was a newbie librarian (newbrarian?), a staple on the reference shelf was the annual "U.S. Industrial Outlook". Put out by the Department of Commerce, it ceased publication several years ago. Periodically, though, the private sector puts out reports like the " 2008 Industry Outlook ". Deloitte issued this in late January. Its layout reminds me a lot of the old "Industrial Outlook," in that you get a snapshot view " the entire spectrum of industries that Deloitte serves" (which is pretty broad). You're not going to get in-depth information here - it's not intended to be a market research report, nor is it covering the same depth as, say, Standard & Poor's Industry Surveys reports. However, if you want to get a snapshot perspective on how external factors (e.g., the Presidential election, the rising costs of energy, etc.) are affecting certain major industries in the U.S., this is a good place to start.