As the American-Chinese trade war continues, we must find solutions to our deficit. The business leaders of today are screaming to stop the tariffs while American car manufacturers are using it as an excuse to direct more American jobs across borders and seas. Few are mentioning our trade deficit. In 2018 America had an $891 million trade deficit with imports at $2.563 trillion and $1.672 trillion in exports. It’s time we Dave Ramsey our national finances to balance our national pocketbook. We must upstart manufacturing by teaching people what growth resources are available to revitalize their community with SBA loans, communal connections, and internet marketing. We wouldn’t need to buy foreign if we made it at home.
In the 21st Century, people can take back their communities with Small Business Administration (SBA) manufacturing loans. The SBA has investment capital loans, federal contracting loans and even loans for existing small businesses. There may be small-town businesses that are near shuttering or shuttered. You, the community, can contact the SBA and ask for their SCORE program analysts to guide you through the process of maintaining that business. When we say small business, we are talking about a local candy manufacturer, woodworking shop or even a solopreneur quilting company. Small towns across the Midwest and the Rust Belt are actually seeing a rise in businesses. It’s time to expand on the trend.
Revitalization of Made in the USA goods isn’t just re-igniting the smokestacks of the old steel mill. Light or small product manufacturing is also possible. Property values are lower in small towns so buying a vacant property cost less per square foot. Small town workers can be paid $7.25 an hour, the federal minimum wage requirement, as the business gets on its feet. Small towns are the source of materials across the nation. The natural resources for manufacturing local are down the road-less costs in shipping compared to cities. The biggest win is that small town people have vast connections into other small towns, rural areas and then their city living kids. They have a generous network of people to help them get their product placed in stores near their manufacturing space.
The internet makes small-town economic heroes with simplified sales logistics at eBay, Amazon, Etsy, etc. The internet directly connects small town manufacturers to a nation of shoppers, other manufacturers, and resources. Manufacturers can join online communities like Start Up Nation that enables them to learn, communicate and grow as business leaders. Studies show women will be the next largest and most sustaining group of entrepreneurs. Connect your local church ladies to the Business Boutique. Online is where America educates business leaders.
Facebook isn’t just street chat, their smart economic ads for businesses connect a product to more customers than anywhere in the marketing chain. An ad for $10 can reach up to 3,000 customers. Don’t forget resources like Twitter, YouTube, and Instagram. Each of these social media channels provides free tutorials for marketing. The possibilities are endless to connect a manufactured good to a customer for free from your own office.
Balancing the nation’s budget should be a pro-American made phenomena. Manufacturing may have shrunk to only 8.75% of the economy but it has massive contributions besides jobs. Studies prove that for every dollar of manufacturing an additional $1.40 is created in the logistics chain. Towns across America can revitalize not just their own economy but our national economy by asking their local town business manager/mayor/village president to create a business development workshop series. These leaders can be responsible for contacting the SBA to ensure classes will be provided on the local level. Make the elected officials responsible for their promises of revitalization one loan at a time.
Let’s make America great at manufacturing again.