This week marks EntrepreurshipWeek USA. The National Association of Manufacturers (NAM), The Manufacturing Institute and manufacturers across the country are celebrating this critical component of American inventiveness and economic growth. We are pleased to be a partner in this important initiative. Many legendary U.S. manufacturers started with an idea in a backyard garage, eventually growing into full blown icons such as Xerox, Caterpillar and Intel. Just click on the company to learn about the entrepreneurs who started them.
Within the nearly 300,000 manufacturing firms in the United States today, 99 percent of them are small and medium sized firms that have to be fast on their feet and entrepreneurial, especially in this global marketplace. So entrepreneurship is a highly valued skill set in our industry. During the past 15 years, businesses in all types of industries that are less than five years old have accounted for about 70 percent of the net job creation.
We see this in manufacturing. A few weeks ago I was in Fort Worth, Texas visiting one of NAM’s small manufacturers, Williams-Pyro. In the past few years, they have grown from 55 to 100 employees and a third of them are engineers, helping that company with new product development and ensuring the quality of their current production. That’s certainly entrepreneurial.
Be sure to visit the EntrepreurshipWeek USA Web site by clicking here. It’s particularly cool for young people and has an innovation competition that they can participate in. And that’s certainly entrepreneurial!
Watch for another entry on entrepreneurship on Tuesday.
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