The news is loaded with stories about the economy and how to fix it, whose fault the current state is, and plenty of other opinions. As a person who engages in different businesses, here are some simple thoughts.
First, with an economy of 300 million people and 10 trillion dollars, the private sector has to do the heavy lifting. All businsses are interested in making more profits. Most of the businesses in the U.S. are small businesses, and you can bet small businesses are always interested in making more money.
Businesses make more money by growing revenues and cutting costs, growing revenues and keeping costs flat, or keeping revenues the same and cutting costs. So, whatever policies can be enacted to help business do any of these things would help a business make more money, and possibly look to expand.
One issue to consider is many businesses now can expand without hiring people- especially in the digital domain. Also, if a business is looking to expand, they are going to try and do it as efficiently as possible, probably in a place where they can keep the most money so they can further grow the business. If a government wants to improve the economy and put people back to work, help companies access new markets (increase revenues), lower costs (reduce bureaucratic costs, hiring costs, etc), or some combination thereof.
Hey, please give us your thoughts on what you would do to help the economy?
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Liked this article on learning from blogging in small business:
As always, on any company mentioned here, past performance is not a guarantee of future returns. One should research any investment and make sure it is suitable with your objectives, risk tolerance, risk profile liquidity considerations, tax situation, and anything else pertinent to your financial situation. Also, the CFA credential in no way implies investment returns will be superior for any charterholder.
Yale Bock, CFA
President, Y H & C Investments