January 25, 2010
Small Businesses Make Huge Impact
In an article published in South Bend Tribune’s Business Weekly written by James Hurley, Tribune Correspondent, Bremen Castings, along with Manufacturing Technologies Inc. were featured in the article as follows:
“As the nation emerges from the worst economic downturn in generations, one thing has been made clear; The backbone of the U.S. economy is not made up of stocks and bonds and large employers. The vital component tht supports our economic health is small business.
According to the U.S. Department of Commerce, small businesses have accounted for 64 percent of new employement since the mid-1990’s. They employ more than half of all private sector employees and pay 44 percent of total U.S. private payroll.
And they are innovators, producing 13 times more patents per employee than large employers do.
‘Small business really is, especially in our region’s case, the driving force of our economy.’ said Phil D’Amico, cirector of business growth for St Jospeh County Chamber of Commerce.
In light of such, the metropolitan statistical area composed of St. Joseph and Marshall counties in Indiana and Berrien and Cass counties in Michigan, which D’Amico oversees, appears well equipped to support the economy’s march forward.
The area has about 15,000 businesses in total, D’Amico said, and of those about 13,500 have fewer than 30 employees.
Salute to companies that drive local economy and invest in community.
‘Small business create close to 80 percent of the jobs in our community, excluding government and education,’ he said.
Two of the area’s small businesses recently caught the attention of the Indiana Chamber of Commerce. Manufacturing Technologies Inc of South Bend and Bremen Castings of Bremen were selected as finalists for the organization’s Small Business of the Year award.
MTI went on to win the award.
The accomplishment, D’Amico said, highlights the importance of small businesses to the future of the community. After all, not only do small businesses strengthen the local economy, they also contribute significantly to the strength of the community as a whole.
‘These businesses do a lot for their communities.’ he said. ‘They volunteer their time and provide donations to local causes.’
And they invest in the development of the community’s work force.
‘[The award] shows tht we have successful businesses in our community.’ he said. ‘And it shows that the area has opportunities for high-skilled, high-paying jobs for individuals who want to stay in this area.’
Communities benefit from the stability that these businesses foster. And, D’Amico believes that raising awareness about their contributions could not come at a better time.
‘I think it’s very important, probably today more than ever, to highlight those companies that are doing well,’ he said.”