Today, I’m traveling with the President’s Council on Jobs and Competitiveness in Dayton, Ohio. We are at a small company called Hooven-Dayton that prints the labels for products like Tide and Mr. Clean. Our purpose is to hear from the executives of small companies like these, which are often referred to as “suppliers” because most of their products and services are sold to larger companies.
Why is this important?
A recent study showed that after a small supplier lands a big purchase order or a contract from a bigger company, the small company’s revenues go up 250% and they create about 150% more jobs in just two or three years. Therefore, at this critical time in our economic recovery, the small businesses in these supply chains are an important area for us to focus and build on.
So, throughout the day, we’re talking with small suppliers themselves about how to make America’s supply chains as dynamic and innovative as possible. I’m sure that we will talk about a range of issues, from access to capital, to creating new partnerships, to exporting, and more. These are areas where the SBA and our federal partners – as well as an increasing number of large U.S. firms – offer important tools that can help suppliers grow and create jobs.
Fonte: White House