The U.S. economy is changing dramatically. It's quite apparent that geography and physical boundaries are becoming less and less critical in company strategic decisions and plans.
Large industrial companies are moving overseas where cheap labor and relaxed standards allow them to produce more using less.
New companies are springing up in the U.S. to take their places - but these firms are different. They're knowledge-based and their growth is driven by intellectual capital.
Often these knowledge firms gather around one another in clusters in order to feed off each other and create a community were they rub shoulders on a daily basis.
Many of these new knowledge firms begin as a solo business. Sometimes the entrepreneur will bring on a partner or two, either to strengthen the management team or as a sounding board to bounce ideas around.
Does your business revolve around or support an old school business? If so, you may soon loose your largest and most important client.
One of the ways to position your small business so that it is relevant in the new knowledge economy is to cater to the needs of one or more of these regional cluster companies.
Here are some of the emerging clusters that are most important and the types of businesses that will thrive in the new economy:
1- Energy
2- Financial services
3- Information technology
4- Software development
5- Natural resources development
6- Aerospace technology
7- Security and defense technology
8- Life sciences
9- Nanotechnology
10- Biomedical research and technology
Will your business cater to, or be a relevant player in providing the types of products and services that these clusters demand?
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