Industry Classification…U.S. & Europe What Kind Of Business Are You In, Really?
The European Community’s current review of its Statistical Classification of Economic Activities (NACE) has prompted discussions among European Textile Services Association (ETSA) members to reconsider our industry’s essence. At its core, is it a laundry business? It might not be, given the paramount importance of rental revenue, e.g., it’s ultimately a contract supply business. So it’s a service industry, but its core production facilities resemble factories more than laundromats or dry-cleaning stores.
The EU revision presents an opportunity to increase the industry’s visibility. Because the existing NACE makes no mention of textile services, EU nations can’t use NACE as a ...
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