2020 Small Business Economic Outlook

2020 Small Business Economic Outlook

On the heels of a strong holiday season, small business owners should be feeling quite optimistic as we roll into 2020. The American economy was gifted with reduced economic uncertainty, capping off what has been – while not spectacular – a very solid year of economic growth.

At this point last year, and throughout the majority of this year, most economic analysts out there were predicting a recession of the US economy. No one could believe that the current economic expansion could possibly continue into a record 11th year

Current-Economic-Conditions

Understanding Current Economic Conditions & Positioning For The Rest Of 2019

How is that possible? As history has shown us, global economic uncertainty leads to global investors shifting their money to safer U.S. assets which drives up the value of the dollar since dollars are needed (think supply vs demand) to purchase these assets. This is depicted by the U.S. Dollar Index (DXY), which tracks the strength of the dollar against a basket of major currencies. The dollar has held its strength and reamined near the peak its 52-week high. U.S. Dollar Index goes up when the U.S. dollar gains “strength” (value), compared to other currencies. In particular, it has gained 7% against the Euro since it began its ascent last April, and nearly 10% against the Chinese Yuan over the same period.

Help Wanted

Is Now the Time to Hire Additional Staff?

As a business owner, one of your most important tasks is workforce management. It’s your job to make sure you have the right people–and the right number of people–to keep your company running smoothly. But how do you know when the time is right to hire additional staff? It may be time to consider hiring more team members if your business meets one or more of the following conditions:

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