We are nearly ¾ of the way through the year, and while the first half of the year was a good year with a healthy economy and high growth, the back half appears to be becoming one of increasing instability. It has been a long year of lots of changes to the political landscape, and your small business may be facing some issues that are really based on how 2019 has been going so far. What are the four key issues facing small businesses in 2019? Well, it’s a mix of managing growth, costs, your rainy-day fund, and staffing. Your business is doing well. But what’s next? ProStrategix knows how to help. Read some of our other articles below, or feel free to connect with us and get a complimentary thirty-minute consulting session.
- Accelerating Small Business Growth: 5 Proven Methods
- If You Don’t Plan for Growth Now, You’ll Hate Yourself Later
- 3 Things to Know Before Starting a Small Business
- Helpful Tips for Small Businesses
- Contact Us
2. Regulations Are on the HorizonWhile we may depart from others on this point, that not all government regulation is bad, full stop. However, we must also recognize the fact that they do tend to affect us as small business owner disproportionately.
Federal regulations … are growing and have a disproportionate impact on small business and free enterprise in America. Federal regulations alone are estimated to cost the American economy as much as $1.9 trillion a year in direct costs, lost productivity, and higher prices. The costs to smaller businesses with 50 employees or fewer are nearly 20% higher than the average for all firms.This isn’t the end of the world, but to keep your small business alive in 2019 you’re going to need to be smart about how you go about your financial saving, especially for remaining strong in the long term.