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For far too long, American manufacturing has declined, but the tides are turning.
The U.S. Small Business Administration is at the forefront of bringing manufacturing back to the U.S., with the new Made in America Manufacturing Initiative, providing resources, capital, and support to help small business manufacturing thrive domestically and internationally.
Now is the time for businesses to take advantage of SBA resources and help drive the next era of American manufacturing success. The average small manufacturer generates $5.4 million in annual revenue.
Each year, SBA helps more than 50,000 small manufacturers start and grow their business. Manufacturing in the U.S. is smart business, as it allows companies to respond more quickly to market trends, maintain higher quality control, and build supply chain resilience that mitigates global disruptions.
It fosters an ecosystem of innovation, where designers, engineers, and skilled workers collaborate to create the most advanced products. It produces an environment where intellectual property, best practices, and productivity increase.
And it creates thriving communities as good-paying jobs remain local. The SBA plays a critical role in ensuring that small business manufacturers have the capital and resources to succeed. Its SBA-backed loan programs allow manufacturers to invest in new machinery, real estate, and exporting initiatives to help them scale effectively.
Lender Match is a free online referral tool that connects small businesses with participating SBA-approved lenders. SBA ensures small enterprises have access to U.S. federal government contracting opportunities. Government contracts are a tremendous financial opportunity for small manufacturers.
SBA works with federal agencies in order to award 23% of prime government contract dollars to eligible small businesses. It also offers counseling and help to small business contractors.
SBA resource partners provide counseling and training resources to support small manufacturers through a national network of partners who are skilled in developing plans to acquire financing, expand capacity and meet workforce needs.
The Made in America Manufacturing Initiative revitalizes the American industry by cutting regulation. The SBA is targeting $100 billion in regulation cuts through the Office of Advocacy, which will work to identify and eliminate rules and policies that burden small businesses and manufacturers.
Small businesses can reach out to SBAs Office of Advocacy by calling 800-827-5722 and pressing option 3 or emailing RedTape@sba.gov to make their voice heard in the regulatory process.
These and many other SBA resources are available online at SBA.gov. SBA is ready to assist, whether in-person, on the phone, or virtually through a webinar.
Steven Snow is the U.S. Small Business Administration pacific regional administrator, overseeing the agency’s programs and services in California, Arizona, Nevada, Hawaii and Guam.