A troubling syndrome develops during challenging times – one of putting off tough decisions.
Currently, it sounds a lot like this:
“We’ll wait until the election;” “We’ll wait until this healthcare situation gets resolved;” “We’ll wait until we
know who the governor will be…”
Each of these situations contributes to the economic uncertainty businesses are frustrated by, causing an
already fragile, recovering economy to languish. What’s worse is economists suggest it could trigger another recessionary period.
Businesses waiting to get past the next “barometer event” have little or no assurance the economic environment will in fact improve. If that assurance is lacking, doesn’t it make more sense to launch company initiatives now and make the most of it prior to these future outcomes? After all, even though too many business owners are determined to tie their business fate to these outcomes, they are outcomes about which they have no control.
The national political debates, as well as those surrounding statewide issues, will carry on week after week until the election (and likely well after). However, those debates will do nothing to advance the local business climate. Haven’t the last four years demonstrated well enough that the answer isn’t coming from our nation’s capital or from our state capital? Waiting, or even participating in the debate, only serves to delay the recovery we all desperately want and need.
Even in stable economic times, undertaking a business initiative is full of risk. Consider then launching those initiatives in light of a fragile economy and an uncertain future with a potentially negative regulatory and tax environment.
Might the situation change after the election? It might. Might taxes go up? They may, then again they may not.
Might the cost of healthcare drive up our cost of personnel? It might.
While there are uncertain aspects of the post-election period that make forecasting outcomes virtually impossible, that shouldn’t be the reason for inaction now. We have the lowest property values and lowest financing rates in a lifetime, there is an abundance of well-educated and well-trained workers and we have pent up demand from companies and individuals alike ready to be satisfied. All this should result in growth of market share for companies. After all, study after study over the last half a century has documented how those businesses who are aggressive in a down economy come out stronger and actually lead the recovery in many instances.
Farmers have known for generations that one has to make hay while the sun shines. Regardless of the national and regional debates, the sun is shining and it is up to those of us in the business community to “make hay.” Let’s not let the opportunity pass.
