It is the fall of 2011, locally and across the country; we are poised on the eve of an election year, in the midst of a languishing economy, and overwhelmed in debt. Small businesses in dire straits are up against some of the worst economic conditions ever seen in the U.S. economy. Although some analysts say that we are in a ‘recovering economy’, most businesses would agree that we are far from moving beyond the turmoil of our current economic status.
Local businesses are struggling across the nation to ascertain a healthy direction in the coming year. With uncertainty rising with new leadership in an election year, all the proposed ‘fixes’ for our economy, and most businesses drowning in debt, forward movement seems a near impossible feat.
Most small to medium sized business do not have the confidence to make aggressive forward decisions because of the tumultuous economy. Do you blame them? With all the facts considered, would you personally risk it all in such conditions with no guarantee of success? Many businesses ardently view such decisions as rash, impetuous, and clearly unwise.
Consider some of the following facts. The U.S. national debt grows on average $4.2 billion dollars per day. Over 2.2 million jobs have been lost. Since January 9, 7,076 new final regulatory rules have been issued and are now in affect. And we question why business don’t want to spend money, and why there are so many lay-offs. It seems quite apparent in a de-stabilized economy why small businesses have shrunk spending, tightened budgets, cut labor expenses, and aren’t expanding.
What are some of our assurances? There aren’t many, but here are a few that may give small business some hope. President Obama’s Recovery Act has introduced infrastructure stabilization, tax cuts, small business grants, and long-term spending projects aimed at bolstering the U.S. economy and keep small businesses working. Positive movement in these areas have allayed some of the fears, but there is much more work to be done.