Manufacturing & Small Business · Small Business: Factories or bakeries, machine-powered or...
Transcript of Manufacturing & Small Business · Small Business: Factories or bakeries, machine-powered or...
Manufacturing & Small Business:
Factories or bakeries, machine-powered or handmade, manufacturing drives the
US economy
of manufacturing companies are
small businesses
400K
350K
300K
250K
200K
100K
50K
0
0 5 10 15 20 25
150K
Nu
mb
er
of
co
mp
an
ies
No employees 1-20 employees 21-499 employees More than 500 employees
Paper
Computers and electronic products
Plastics and rubber products
Electrical equipment, appliances and components
Food
Machinery
Beverage and tobacco products
Wood products
Fabricated metal products
Furniture and related products
Apparel
% of total employment
Businesses with fewer than 20 employees manufacture these products:
have fewer than 20
employees
Manufacturing generated 11.6% of U.S. economic output and 8.5% of the workforce.
Yet, 89% of manufacturers cannot fill job openings.
Shifting skill sets due to advanced technologies
Misperceptions of manufacturing jobs
Retirement of baby boomers
98.6%
75.3%
Top reasons cited:
https://www.census.gov/econ/manufacturing.html
https://www.nam.org/powerofsmall
https://www.census.gov/content/dam/Census/library/publications/2015/econ/g12-susb.pdf
https://www.bea.gov/data/gdp/gdp-industry
https://www.sba.gov/sites/default/files/advocacy/2018-Small-Business-Profiles-US.pdf
https://www.nam.org/Newsroom/Facts-About-Manufacturing/
https://www2.deloitte.com/insights/us/en/industry/manufacturing/manufacturing-skills-gap-
study.html?mod=djemRTE_h
Sources:
Work with a SCORE mentor to help start or grow your small manufacturing company
Manufacturing businesses create products from raw materials or components either by machines or by hand. Goods are made
in plants, factories, mills—but also in homes.