Looking Ahead: Issues and Challenges
No wise entrepreneur stays rooted in the present, particularly given the 21 st century’s economic volatility. Anticipating hot issues and inevitable challenges is a must. In fact, a bit of forethought may allow business owners to avoid situations that have been the downfall of so many small companies.
Leading experts point out that a handful of factors can build on, or undermine, a venture’s success from the outset. These are: staffing identifying and retaining talented individuals; owner management skills developing executive know-how to keep the business growing; sales designing a marketing plan that hones in on profitability; training and education giving staff the proper level of professional development opportunities; and corporate flexibility developing the ability to adjust to changing circumstances.
Fortunately, the solution to these problems lies with the business owner. A bounty of resources on training, management and marketing are listed elsewhere on this Web site. But larger issues loom ahead, according to The United States Chamber of Commerce (www.uschambersmallbusinessnation.com) and they cannot be ignored.
In its role as a small-business advocate, the U.S. Chamber, along with its member organizations, have joined forces in the following areas:
Energy. Assuring access to reliable, affordable energy supplies nationwide, thus allowing American companies to keep operations and jobs in the United States.
Capital Markets. Supporting the advance of U.S. global leadership in capital formation by fostering fair, transparent and effective markets.
Health Care. Dealing with rising insurance premiums and the effects of health care reform on economic recovery and small business growth.
Taxes. Supporting pro-growth tax policies to maintain U.S. global competitiveness; advocating for a tax structure that fosters and promotes small business development.
Labor. Supporting workers’ rights to join unions under a realistic rule framework; fighting unscrupulous pension fund schemes and high-pressure union organization activities threatening business expansion.
Regulatory Reform. Advocating for reduced governmental regulation of business and establishment of a more stable and balanced regulatory environment; supporting regulatory policies allowing economic and small business growth.
International/Trade . Promoting international engagement as a core component of the U.S. economy, as well as a generator of American jobs that depend on international trade.
Transportation. Addressing disrepair and overextension of U.S. roads and rails, which cost the annual economy $63 billion in lost time and wasted fuel.