Indicators: Economic stats and small business trends

SMALL BUSINESS ADMINISTRATION

SBA Initiates Country-wide Business Study
The Office of Advocacy of the U.S. Small Business Administration has awarded nineteen researchers contracts to study small business and deepen the understanding of the role that small business plays in economic growth and development. Based throughout the country, from California to Massachusetts, the researchers will study everything from the relationship between age and growth to the impact of specific regulations on small business. www.sba.gov

“New Markets” Get Help from SBA
The U.S. Small Business Administration has launched a pilot program to provide financial assistance to small business in economically distressed urban and rural areas, or “New Markets,” that need the economic attention to get communities back on their feet. The initiative provides incentives for commercial lenders and local development organizations to make more SBA-guaranteed loans in these communities. www.sba.gov.

Small Business Employed 57.4 Million
According to a report recently issued by the Office of Advocacy of the U.S. Small Business Administration, small business represented 99.7 percent of all the nation’s employer business in 2005. Small business also employed 57.4 million Americans or 50.6 percent of the non-farm private sector workforce. www.sba.gov/advo.

Office of Advocacy Comments on OSHA’s Globally Harmonized System
The SBA’s Office of Advocacy has submitted comments to OSHA regarding the administration’s Advanced Notice of Proposed Rulemaking (ANPRM) on Hazard Communication Globally Harmonized System of Classification and Labeling of Chemicals (GHS). OSHA’s current hazard communication system requires chemical manufacturers and importers to provide information on the hazards of their chemicals on container labels and safety data sheets (SDS). Implementing the new GHS system—an international standardization of chemicals based on their health, physical, and environmental effects—would cause U.S. manufacturers to redo their hazard communications programs, revise inventory lists, and retrain their employees. The Office of Advocacy has submitted comments to OSHA asking them to consider how the GHS will impact small businesses, and to determine ways to reduce the impact of GHS on small businesses. The full version of the letter to OSHA is available at www.sba.gov/advo/laws/comments.

New Website is One-Stop-Shop for Small Business Compliance
The SBA has launched a new website, www.business.gov, that will provide business owners with access to all federal compliance information on one site for the first time. The site will search for compliance news, information, and federal forms from nearly 100 government websites and compile government compliance contact information. The Small Business Administration in partnership with 21 federal agencies manages the site.

OSHA

Workplace Injury and Illness Down in 2005
The Labor Department’s Bureau of Labor Statistics (BLS) reported the rate of workplace injuries and illness in private industry decreased in 2005 for the third consecutive year. With a total of 4.2 million injuries and illnesses in 2005 the rate decreased from 4.8 cases per 100 full-time employees in 2004 to 4.6 cases per 100 full-time employees in 2005.

New Safety and Health Topics Page Available
Making the Business Case for Safety and Health, a new webpage available on www.osha.gov, aims to demonstrate the business value of investing in workplace safety. The site educates business owners on how a comprehensive safety program can not only protect employees, but also save money. The site includes case studies, information sorted by industry and safety topics, tips for starting safety programs, and more.

Disaster Preparedness Tool Offered by OSHA
OSHA and the Gulf Coast Chapter of the American Society of Safety Engineers (ASSE) have developed a tool to aid employers and employees involved in disaster cleanup and recovery efforts. The 2006 Disaster Preparation Resources CD contains information on safe and healthful response and recovery operations from OSHA, ASSE, the Centers for Disease Control and Prevention, and the Federal Emergency Management Agency. Employers will be able to develop, review, and update their emergency preparedness plans with the help of this new CD, which is available by e-mailing Sarajenie Smith at ssmith@asse.org or calling 847.699.2929.

NAM

U.S.-China Business Relations Task Force Formed
In preparation for Treasury Secretary Hank Paulson’s meetings with Chinese leaders regarding various trade issues, NAM has appointed a U.S.-China Business Relations Task Force to work with the Treasury Department and Paulson. The task force aims to provide a manufacturer’s prospective on these trade issues to Secretary Paulson, covering Chinese currency, intellectual property, subsidization of Chinese production, increased U.S. imports by China, energy security, and other trade issues.

Manufacturing Fact Book Now Available
NAM and the Manufacturing Institute announced the availability of the 7th edition of The Facts About Modern Manufacturing. This newly available resource highlights American manufacturing with the latest government statistics, NAM economic analysis, and corporate success stories. The publication, sponsored by Toyota Motor North America, is available at www.nam.org/facts.

NAM Makes 109th Congress Voting Records Available Online
The NAM Voting Record: 109th Congress is now available online at www.nam.org/votingrecord. The comprehensive voting record allows provides readers information on how congressional representatives have voted on manufacturing issues. Printed copies were distributed to all NAM Council members.

Additional information on these topics, and other Council notes are available by subscribing to NAM’s Council Update at www.nam.org.

EPA

Top Fuel Economy Lists Now Available
The U.S. Department of Energy (DOE) and the (EPA) released the 2007 Fuel Economy Guide to help consumers make well-informed choices when purchasing new vehicles. Data show that hybrid vehicles continue to lead the government’s fuel economy ratings. This year’s Toyota Prius, Honda Civic, Toyota Camry Hybrid and Ford Escape Hybrid FWD models top the list. Hybrid technology can be effectively used to improve fuel economy, as other models leading the list include the Toyota Yaris, Honda Fit, Toyota Corolla, Hyundai Accent, Kia Rio, Ford Escape 4WD Hybrid and Mercury Mariner Hybrid 4WD. www.epa.gov.

Growing Renewable Fuels to Keep America Going
Promoting the environmental benefits of renewable fuels is the focus of the new SmartWay Grow & Go program, launched last month by the U.S. Environmental Protection Agency (EPA). Expanding the successful SmartWay Transport Partnership, SmartWay Grow & Go companies are encouraged to make commitments toward improving the environment through the use of renewable fuels. The goal of the program is to have 25 percent of EPA’s SmartWay Transport partners using renewable fuels by 2012, and 50 percent by 2020. There are currently 481 Smartway Transport partners including major truck and rail carriers as well as shipping and logistics companies. www.epa.gov.

REPORTS AND STUDIES

• Polystyrene – Global Strategic Business Report, www.researchandmarkets.com.
• Calcium Carbonate – Global Strategic Business Report, www.researchandmarkets.com.
• Light Vehicle Manufacturing, www.researchandmarkets.com.
• Training and Simulation Handbook 2006, www.researchandmarkets.com.
• North American Space Directory 2006, www.researchandmarkets.com.
• Surface & Sub-Sea Unmanned Vehicles Handbook, www.researchandmarkets.com.
• Digital Battlespace Handbook 2005/06, www.researchandmarkets.com
• Unmanned Vehicles Handbook 2006, www.researchandmarkets.com.
• Defence Helicopter Magazine, www.researchandmarkets.com.
• UV Process Supply Catalog, request a copy at catalog@uvps.com.

BOOKS

Effective Implementation of ISO 14001
Marilyn R. Block
American Society for Quality
Effective Implementation of ISO 14001 provides a clear explanation of each requirement imposed by ISO 14001: 2004 and describes how it compares to the comparable requirement in the original standard. For readers who are designing and implementing an environmental management system for the first time, this book goes beyond general description to identify the ways in which the standard can be implemented within the constraints of business strategies, environmental imperatives, and regulatory requirements. For readers faced with maintaining a mature environmental management system, it assists the process of comparing existing approaches and activities with the revised requirements, identifying weak or missing elements, and modifying the environmental management system to conform to ISO 14001: 2004. Sarah Baldwin: sbaldwin@asq.org.

TRENDS

What About Soy?
The United Soybean Board (USB) and various suppliers have partnered to find soy alternatives to pricey petro-based components for plastics. The two main segments of soy-based plastics, polyurethane using soy polyols and thermosets, have great growth potential, according to the USB. The first has been combined with isocyanate to create Soyol, developed by the Urethane Soy Systems Company (USSC), in partnerships with South Dakota Soybean Processors, USB and soybean checkoff, which has been used in various rigid and flexible polyurethane foam applications. As for plastic composites, or thermosets, plastic body and interior parts for automobiles, boats and agricultural equipment could potentially replace 300 million pounds of all thermoset resins. www.unitedsoybean.org

U.S. Labor Secretary Focuses On Workforce
U.S. Secretary of Labor Elaine L. Chao plans ways to strengthen America’s workforce competitiveness in the 21st century economy. She cited several initiatives intended to support this plan, including the High Growth Job Training Initiative, The Community-Based Job Training Initiative, and the American Competitiveness Initiative. The last includes Career Advancement Accounts, which allows workers up to $3,000 to purchase education and training. www.dol.gov.

Ohio Wants You
Ohio’s recent business tax changes reduced the state and local taxes imposed on new Ohio business investments in machinery, equipment and structures. According to www.OhioMeansBusiness.com, the effective state and local tax rate on new manufacturing and service industry investments will be significantly lower than in any other Midwest state. Coupled with a low cost of living and a prosperous education program (Ohio is a top ten state for the number of graduates in the population), the state has recently bolstered their campaign to attract new residents. www.OhioMeansBusiness.com.

Real Wages Falling Behind
“The median hourly wage for American workers has declined 2 percent since 2003, after factoring in inflation,” reported The New York Times. However, productivity has steadily climbed, resulting in a GDP in which wages and salaries now make up the lowest share since 1947, when the government began recording data. Meanwhile, corporate profits have reached their highest share since the 1960’s. www.nytimes.com.

Home Sales Increase 5.3 Percent in September
Sales of new single-family homes rose 5.3 percent in September to a seasonally adjusted annual rate of 1.075 million units, according to figures released by the U.S. Commerce Department. The increase followed downward revisions to the sales rate for the previous three months, and the sales pace was down 14.2 percent from a year ago. The inventory of new homes for sale fell for the second consecutive month in September to 557,000 units, equivalent to a 6.4 months’ supply at the current sales pace. Completed homes for sale were 28 percent of the inventory. Units still under construction represented nearly 56 percent of the inventory, and units for-sale that were permitted but not yet started represented 16 percent of the inventory level. www.nahb.org.

Two Marine Companies See Rise in Sales
IBI Magazine reported that both Cummins and MarineMax had profitable third quarters. Cummins power generation and distribution businesses grew significantly, resulting in the company’s most profitable third quarter in history. MarineMax increased sales to $323.6 million, a 41 percent increase compared to the third quarter of 2005. The company’s net income also increased by 24.1 percent to $12.6 million compared to last year. Source: www.ibinews.com

U.S. Productivity Growth Slows
According to an article in the Wall Street Journal, productivity growth has slowed to +1.3 percent growth from last year, compared to an average annual growth of 2.8 percent over the last decade. Productivity growth, a gauge of average worker output per hour, is considered key to national prosperity, so the flattening of this growth raises concerns that businesses will not be able to gain increased output from the same workers. This has the potential to affect inflation, corporate profits, and improved living standards, according to the Wall Street Journal.

Investor Confidence Holds Steady
Despite the market correction occurring in the overall housing market, investor confidence remains strong in publicly held firms whose primary business involves apartments and condos, according to the latest Multifamily Stock Index (MFSI), released by the National Association of Home Builders (NAHB). The MFSI gained 42 points in September to reach an index value of 3,371, a rise of more than 1.25 percent from the previous month’s 3,328 number and a year-over-year gain of 30 percent. This latest increase sets a new all-time high for the MFSI—which tracks the stocks of 24 publicly traded firms including 20 Real Estate Investment Trusts (REITs) principally involved in owning, developing, and managing multifamily housing. www.nahb.org.