Public Notice and the SBE Council have released a new four-part video series designed to highlight the uncertainty that Washington continues to fuel for small business owners and entrepreneurs. Today, we released Part III of the series - The Story of Business: "Competing for a Future."
The video features Mike Fredrich, President, MCM Composites located in Manitowoc, WI. Mike explains his business, and revisits the economic struggles of the past two years. He describes 2009 as an "absolute nightmare" where his overriding goal was "to survive." He cut his salary in 2008 and has not increased it since. Mike says the only way his small manufacturing company can compete with countries like China is to be more productive with labor, and he does that through the deployment of capital - that is, he continues to invest in new capital and research and development.
Thankfully, Mike's tenaciousness and will to survive is slowly paying off. Though he has yet to move back to profitability, he has added 10 new employees. However, government actions have not helped. Most glaringly, with looming tax increases, Mike explains how this will impact his business and takes exception to the notion that he is one of the "privileged" that is not paying his fair share. Every dime that the government currently takes, and will take if tax relief expires at the end of the year, is capital that could be used for capital improvements, research and development or attracting a good engineer.
Please share this short video (4:31) with your friends, colleagues, family.
Karen Kerrigan, President & CEO