Packaging Express Wins Colorado Sustainment Supplier Of The Year Colorado, Springs, Colorado based Packaging Express Inc. was presented with the Sustainment Supplier of the Year Award during the 2024 Colorado Manufacturing Network Awards hosted by the Manufacturer’s Edge. The award celebrates companies that have committed to qual- ity, transparency, and connection by joining the Colorado Manufacturing Network through Sustainment’s badge ver- ification process. Packaging Express was recognized as one of Colora- do’s last independent custom box manufacturers. With over 25 years of history, the family-owned business takes pride in delivering custom packaging solutions at lightning speed, continuing a legacy that spans three generations. Small Business Optimism Rises, But Uncertainty Highest To Date The National Federation of Independent Business (NFIB) Small Business Optimism Index rose 2.2 points in October to 93.7, marking the 34th consecutive month below the 50- year average of 98, but the Uncertainty Index rose seven points to 110, the highest reading ever recorded, according to a report from the National Association of Manufacturers.
This high level of uncertainty is making small business owners hesitant to invest in capital and inventory, with 54 percent of owners reporting capital outlays in October and a net 9 percent of owners reporting inventory reductions compared to gains. However, uncertainty was expected to fall with the election over. Although price increases have slowed in recent months, inflation is the top concern for small business owners, with 23 percent identifying higher input and labor costs as their primary issue. Filling job openings continues to be a top issue for small businesses. In October, 35 percent of small business owners reported jobs they could not fill, up 1 per- cent from September. A net 26 percent of small business owners planned price hikes in October, up 1 percent from the month prior. A net 31 percent of small business owners reported rais- ing compensation, down one point from September and the lowest reading since April 2021. Following the Federal Reserve’s September interest rate cut, a net 5 percent of owners reported paying a higher rate on their most recent loan, down 7 points from September and the lowest read- ing since January 2022. Profitability remained under pres- sure, mainly due to weaker sales. The outlook for general business conditions remains negative but has improved significantly from earlier in the year. While small business owners are still facing unprec- edented economic adversity, owners remain hopeful as they head toward the holiday season.
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November 25, 2024
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