Industrial Engineer Engineering and Management Solutions at Work

May 2012    |    Volume: 44    |    Number: 5

The member magazine of the Institute of Industrial and Engineers

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Manufacturing by Paul Templin

Industrial Engineer's quarterly column about lean manufacturing (May 2012) 

Live lean or die

We have heard the statistics. “Small businesses represent 99.7 percent of all employer firms, employ half of all private sector employees, pay 44 percent of total U.S. private payroll, generated 65 percent of net new jobs over the past 17 years, create more than half of the nonfarm private GDP, hire 43 percent of high-tech workers (scientists, engineers, computer programmers, and others), … make up 97.5 percent of all identified exporters and produced 31 percent of export value in FY 2008 [and] produce 13 times more patents per employee than large patenting firms,” according to the Small Business Administration.

In short, small businesses drive the U.S. economy.

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