In our world of business, we enter 2017 with great hope and anticipation of an invigorated economy and yes, some trepidation about whether it will all come together once again to lift our businesses, big and small.
We know that in fixing our business climate here in the United State, we have significant hurdles to overcome. Our labor force participation is at its lowest level in 40 years. Our principal generator of new jobs, small business startups, is growing at a rate of 30% less than in 2008. One million new startups have failed in the last 8 years, resulting in the loss of 7-10 million jobs; GDP growth has been less than 3% for 10 years running. I can go on and on about the issues of our stagnant economy, but we all know that we now have a major opportunity to reverse these negative, confidence-draining trends.
The optimist in me tells me that this is a mountain not too steep and difficult to climb. Here’s why – we are, at our heart, a nation of doers that want to make things better for all of us, individually and collectively, and when slapped down, we confidently and aggressively get back up, rebuild, innovate and work hard to find solutions that solve the problems that confront us and satisfy our customers’ needs.
To me, confidence and risk taking go hand-in-hand and make our country unique in history. Here’s my logic flow: If businesses of all sizes see a favorable business climate with less regulation, lower taxes and available financing, there will be the entrepreneurial and corporate confidence to invest, innovate and take the necessary risks to create new and better goods and services that our customers want and desire today and tomorrow.
It’s all about a business culture in our country that incents and rewards growth, risk taking, entrepreneurship, innovation and community. If we are smart about it, the rising tide will lift all the boats. Here’s to a great 2017!