29 Oct What Does the Election Mean for Business?
It’s an election year, and that means change is coming! Even if President Obama retains his position as leader of the free world, defeating Mitt Romney, it can take it’s toll on businesses. It all has to do with the potential change in leadership. Most businesses tend to respond like frightened rabbits in the face of change. During the last election year four years ago, the economy was in a different place, and many businesses were suffering – more than they are right now. In the frantic light of insecurity those businesses stopped spending.
What Happened To Them?
In that light of insecurity other businesses followed in the same footsteps. This caused a domino effect. Companies weren’t hiring and some completely stopped outsourcing. In the downhill trickle when one business cut down, others did the same. Less production became less revenue. Did this happen across the board? No, but it was prevalent in a number of industries. This year there seems to be less of a problem in this respect. However, that doesn’t mean that the fear of potential change isn’t there.
What Could Happen in the Next Four Years?
You’ve listened to the debates and you’ve heard the promises. The candidates say that they are going to protect businesses, lower taxes, give you a better chance to succeed, etc. All as long as your vote counts for them. Both candidates are making promises that appeal to potential masses, yet if you are only seeking and interpreting the facts you want to hear it might not be enough to make the best decision.
Voting becomes dogmatic in many cases, but if you really want to learn which is going to be the best for business, you have to stop thinking as a Republican or a Democrat. Instead, you have to think as a businessperson. Look at all of the so-called promises and see the ones that are feasible and the ones that would affect you the most. Rather than trying to tell someone to vote a certain way, let’s look only at the issues that will affect business.
How do you plan to vote in this election, what is it that is making your decision for you? Is it really for business, or is there truly another underlying cause?