According to the 2019 Small Business Profile, a project from the U.S. Small Business Administration’s Office of Advocacy, there are 30.2 million small businesses, making up 99.9 percent of all U.S. businesses. With 59.9 million of these small business employees making up 47.3 percent of workers in the United States, it’s clear that this is .....
In the days ahead, the COVID-19 pandemic will likely be described in economic terms as a Black Swan. This phrase is used to describe an event that 1) was unpredictable; 2) caused severe and widespread consequences; and 3) in hindsight was determined to be wholly predictable. What will be interesting going forward is how much .....
The vast majority of manufacturing companies are classified as small businesses. Like all small businesses, they are particularly vulnerable in the event of a poor financial decision. A recent article from Thomasnet offers some tips for how manufacturers can mitigate financial risk. Author Zachary Smith examines three areas: Contracts – Strong contracts protect all parties .....
Today more than ever, manufacturing is a global industry. A recent article for Industry Today addresses strategies that U.S. policy makers and business owners can use to help the country’s manufacturers remain competitive. Increase the Labor Force – Manufacturers in the United States should be focusing on two methods for bolstering their labor force: recruiting .....
In order to remain relevant and competitive, business owners must seek to constantly be in pursuit of change and evolution—and they need to encourage their teams to do the same. A recent article for Industry Week by author Paul Ericksen addresses different types of organizational changes and methods for pursuing them. Ericksen discusses how change .....
As technology continues to advance rapidly and robots are increasingly present in the workforce, what does this mean for U.S. workers? In a recent article for Industry Week, Adrienne Selko addresses the job market of the future. Moving forward, jobs will increasingly require a different skill set. Why is this? Robots are taking over more .....
Manufacturers today understand clearly that for their customers, value matters. Communicating the value and results that their products offer to clients is a key component of remaining successful. A recent article published by Manufacturing Business Technology explores methods for crafting and communicating a clear value proposition for customers. A good value proposition includes: A compelling .....
New technologies are having an enormous impact on the construction industry. A recent article for Construction World takes a look at their impact on the management and utilization of construction equipment. Equipment management is a feature that some construction software offers. It is a tool that allows users to track key equipment details and scheduling. .....
According to the Fannie Mae housing forecast for 2020, new housing is projected to increase 10% in the United States. That means a busy year for homebuilders. A recent article for Forbes takes a look at housing predictions for the coming year. Some key statistical takeaways include: Residential building permits are at a 12-year high .....
While the construction industry is embracing evolution in some areas—such as technology—it is woefully lacking in others. A recent article for Construction Executive addresses the need for the industry to reevaluate the traditional general contractor/trade partner dynamic that is has been operating with for years. Why is evolution necessary in this area? Since trades and .....