3 Big Lessons to be Learned from Recent Economic and Political Trends

If Americans are inclined to vote with their pocketbook in the upcoming 2018 elections, the Republican party may be in a fantastic position to maintain their majority in both the house and the senate. In a recent poll, 66% of Americans described the current state of the economy as either “excellent” or “good.” But for business owners looking to discern the the future and plan accordingly, it can be difficult to determine exactly what to make of the recent economic fluctuations. With that in mind, here are three things to take into account as the new business year opens.
 
The Economy is Still Cyclical
 
No matter how many times the economy ebbs and flows, there seems to be a vocal minority either predicting eternal demise or unending prosperity. The truth is neither are possible; instead, the US economy moves through a series of stages before repeating in a predictable manner. Lean times follow times of plenty, and bounceback occurs after a dip. So while the market might be riding high now, it’s foolhardy to think that the conditions will remain the same in perpetuity.
 
Making the Most of Opportunities
 
Now just because the current economic wave is very likely unsustainable by its own nature, that doesn’t mean that business owners should clam up and prepare for the end of days. Indeed, you wouldn’t carry around an umbrella with you everywhere if it wasn’t going to rain for a week; in the same way, businesses should do their best to strike while the iron is hot. It’s a great time to invest in small business. Whether through a merchant cash advance, or applying for loans for contractors –– for example –– it’s imperative that businesses make hay while the sun is shining.
 
The Upcoming Elections are Critical
 
As mentioned before, the 2018 midterm elections could prove a watershed moment in shaping policy over the next few years and beyond. If the GOP maintains its majority in congress, it’s reasonable to expect more business-friendly legislature; however, if the Democratic party reclaims either chamber, (or both) then it becomes much more difficult to predict how the government will function with a conservative president seemingly at loggerheads with a liberal legislative branch. And prognosis so far on the elections is murky at best. Because while most Americans have expressed satisfaction with the economy, those same polls indicate a frustration (bordering on disappointment) with the other elements of the Trump presidency –– including the conduct of the president himself. Whether Americans consider their wallets or their disposition before voting this November could determine the next big economic turn.