By Daniel Riley and Jacob Park
When President Barack Obama gave his State of the Union Address (1) last month, he made the case that U.S. economic revival is tied to a healthy manufacturing sector. Of course, he is not the first to triumph the importance of manufacturing to the economy. The key question, however, is what type of manufacturing the U.S. should have in the future. … Continue Reading
Small businesses are vital to the health of the United States’ economy. They provide essential goods and services, employ millions of Americans and generate half the U.S. nonfarm GDP (1). Businesses of all sizes prioritize cost reductions, but small businesses‘which lack the monetary, personnel, and technological resources of large corporations‘are often more sensitive to cost variability. This sensitivity to cost fluctuations is especially pronounced for energy expenditures, which cost U.S. small businesses approximately $130 billion each year (2). By decreasing energy expenditures, small businesses can increase efficiency across their operations, strengthen their financial prospects and minimize their impact on the environment.