President Biden Executive Order and the Rise of SME

President Joe Biden discusses some of the executives orders he has planned. Bringing manufacturing back is an important part of economic recovery. Its interesting because both Presidents (Trump and Biden) believe that we should begin to compete in a way that leads to higher levels of U.S. manufacturing and technology development (and other businesses). While we have two different strategies the essential goal of bringing manufacturing back is important. It not only provides opportunities for a new generation of wealth but has the ability to create long-term growth as Millennials learn new skills and adjust their culture in a changing new business environment. 

The problem many small American manufacturers face is they don't know what is actually needed by the market (and some need to develop new skills). Giving them a place to search for opportunities can be helpful (That could also work on an international level as well via a website where we can connect American SME to international business needs).  Manufacturing Extension Partnership focuses on SME manufacturing and that can give a rise to innovation and production. When SME does well they create new products, ideas, and economic growth at a higher rate than many larger companies whose structures have become costly (Internal transaction efficiency declines when in comparison to younger more nimble companies). 

Such a system may power an initial development spurt but they will eventually need to obtain increased contracts to produce items (niche, small/large batch manufactured) for businesses worldwide to be successful. I would pay attention to the AI, big data, and science approach as they are likely to impact market changes. The U.S. is still large and can readjust the supply chain networks in its favor. One would need to develop a concrete strategy and have the pathway to make it happen. The latter being much more detailed and thus far not available in research because most scientists focus on the details but miss the big picture of how all the details connect into a theoretical framework. Scientists are not often trained to put their research into a broad applied perspective (one of the criticism of indoctrinated higher education).