As business owners, we know that the economy is a major factor in the success of our business and we want to do all we can to impact the economy and turn it around. Also, when the economy is running through a rough patch, or a recession, in this case, it impacts our business whether we like it or not. So what do we do about it? How do we create our own economic recovery?
One might think that the answer is looking at the major drivers of the economy and attempting to impact or control them. According to Jonathan Golub, USB Chief US Economic Strategist, who spoke recently on the Kudlow Report on CNBC, the major actors in today’s economy are 1) policy makers, 2) corporations (mainly, large corporations), 3) consumers and 4) investors. Looking at these actors, the question becomes which of these can you impact or have any degree of control over? The answer: Unless you are a large corporation or a major player in your industry, virtually NONE!