Information on Federal Programs and Interagency Efforts That Support Small Businesses Engaged in Manufacturing
| August 7, 2007 |  View for printing |
The ability of U.S. manufacturers to successfully compete in the global economy is essential to the nation’s continued economic growth and standard of living. Small businesses engaged in manufacturing (referred to as “small manufacturers” in this report), typically those with 500 or fewer employees, comprise over 90 percent of all U.S. manufacturers and employ 6 million workers.1
Recent studies have shown that these small manufacturers were particularly hard hit during the recession that began in 2001 and the subsequent slow economic recovery, and that these manufacturers continue to face serious challenges to their efforts to remain competitive. These challenges include difficulties in obtaining operating capital and investment funds to modernize their operations; their relative lack of familiarity with changing technology, production techniques, and business management practices; difficulties in finding high-quality, independent advice and assistance; and difficulties in obtaining skilled employees. While the federal government has devoted considerable resources to programs that can help small businesses, including manufacturers, to more effectively address these types of challenges and compete in today’s global market, industry analysts believe that many small manufacturers may be unaware of this assistance.
Full Report: http://www.gao.gov/cgi-bin/getrpt?GAO-07-714 
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