There are two fundamental challenges for any business: figuring out what to do and then doing it.
Businesses in Michigan's manufacturing sector have a fine reputation for getting the job done, but we have some difficulty in looking down the road and deciding what to do next. This is a critically important question for Michigan's manufacturers to answer today.
Our professors, politicians, career civil servants and newspaper columnists are all wrestling with the "what to do next" question and continue to develop varied approaches and solutions. The foundation where most of these "solutions" invariably rest is the private sector's willingness and ability to follow through and take advantage of public-sector programs.
There are many critics of public-sector programs such as the Michigan Economic Growth Authority and its employment tax credits, and the 21st Century Jobs Fund. These are programs administered by the Michigan Economic Development Corporation (MEDC), a quasi-public organization established a decade ago to help keep and create jobs in Michigan.
Despite the criticism, there are also some benefits. The consensus seems to be that these well-intentioned programs and agencies are not fully meeting expectations and should be improved, but not eliminated. As Voltaire said: "The perfect is the enemy of the good."
One "solution" I will be involved with is the MEDC's Manufacturing Diversification program. You may recall last month's column touted the value of manufacturers teaming together to reduce costs and build strength to attract and bid on larger opportunities in different economic sectors.
At the teaming workshop held last month at Traverse City's Procurement Technical Assistance Center (PTAC), I met with companies that were interested in becoming members of a manufacturing team. The feedback I received centered on the cost, practicality and end results that would be achieved. As a business owner, your company has limited resources and deciding on where to focus resources is an important decision.
The MEDC's Manufacturing Diversification program can help make the decision of venturing forward with a teaming initiative a bit easier. Under the program, interested companies that apply for MEDC diversification training funds are eligible for up to $20,000 worth of consulting services for which companies pay only 30 percent of the cost.
Once approved, companies have a menu of third-party services available to them in four target areas: alternative energy, defense and homeland security, aerospace and medical devices.
General information about MEDC's Manufacturing Diversification programs can be found online at www.michiganadvantage.org/Diversification.
Harley Luplow (JD/MBA) is a local business consultant. Questions or comments about this column can be directed to (231) 344-5907 or by e-mail to luplow@mail.com.
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