As have all of you, I’ve been following the economy. Being in the commercial construction industry, our business is closely tied to the actual state of the economy as well as the perceived state of the economy. Actual state is where the need for our great walls and services comes from. Perceived state is where the decision to build or upgrade a building comes from.
Even when the actual economy is good and companies have money and the need for new and improved buildings, if they feel the economy is not so good they put off construction. It becomes a vicious cycle. If too many believe the economy isn’t very good and so put off purchases, the economy declines and reinforces their feeling and we all suffer.
As I’ve followed the ups and downs of the economic recovery over the last few years I’ve noticed how the media and pundits have played it. They seem to get great delight in going on and on about the slow recovery. The unending debating over why it’s so slow seeps into everyone’s thinking and, in fact, slows everyone down.
I don’t understand this. The economy has been growing and continues to recover. One way I know this is that our business has grown significantly. We should be celebrating this rather than complaining it’s not fast enough.
Nice, steady growth is a good thing. Companies have a better chance to manage their resources rationally without crazy swings and random changes.
I know everyone is not participating in the growth. Tectonic changes in the global economy have wreaked havoc on the group I grew up with, those at the nexus of the working class and the middle-class. The assumptions we made about our futures have been turned up side down.
In addition to these changes, even at the best of economic times some companies do poorly and fail. But most companies that are well run with good products and services that people want are doing okay or even better.
My evidence? The backbone of the economy, the small businesses that dot the countryside, are optimistic and planning to hire. Their mood is upbeat. Upbeat in spite of the naysayer pundits.
This is good news for the economy, for those looking for work, and while those of us running businesses might complain about this, it’s good news for those looking for a wage increase. But then, even a wage increase is good news for we small businesses it you think about it. More money in our employees’ pockets means more money for them to spend and so we need to make more products for them to buy.
The vicious cycle rebuffed and inverted into a virtuous cycle: nice stable growth that isn’t flashy but is steady and continuous fed by optimistic small business owners. Forget the naysayers and pundits spreading negativism. Let’s grow them out of existence.
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