Manufacturing for Small Businesses

Manufacturing has been dominated by large corporations in the past. It has traditionally been cost prohibitive for small businesses and individuals. In 2014, for example, Gene Quinn, Patent Attorney and Editor,  recommended licensing over manufacturing:

“Licensing may be the way to go for those who do not have a lot of money to invest. Even a simple kitchen gadget can cost hundreds of thousands of dollars to take from idea to realization through patent and to market. Costs have gone down over the last several years, and you can proceed responsibly little by little, but to manufacture and sell is a big commitment financially.”

 

Companies like mHub, located in in Chicago, are changing manufacturing trends and enabling small businesses and companies to manufacture their own products using tools located in their facilities. In the video below, Beth Comstock, an American business executive, tours mHub in Chicago and interviews a few key players.

It’s exciting that manufacturing technology is changing and encouraging entrepreneurs to take risks. Empowering individuals and small businesses to create and manufacture their own products will stimulate local economies and allow additional innovations in technology.

References

(2017, May 3). Building the Future of Manufacturing – YouTube. Retrieved July 16, 2017, from https://www.youtube.com/watch?v=DJMOkfiVFb4

Quinn, G. (2014, August 16). Getting Your Invention to Market: Licensing vs. Manufacturing …. Retrieved July 16, 2017, from http://www.ipwatchdog.com/2014/08/16/getting-your-invention-to-market-licensing-vs-manufacturing/id=50805/