Remaking America: The Economic Recovery Plan

By perksconsulting |

The success of our economy has always depended not just on the size of our gross domestic product, but on the reach of our prosperity; on our ability to extend opportunity to every willing heart — not out of charity, but because it is the surest route to our common good.

-Barack Obama, Inaugural Address, January 20, 2009.

Now that Barack Obama is settling into the White House, it’s out with the old and in with the new. So, what exactly does President Obama have in store for the next four years? And how will the face of small business change?

Obama has already begun to set change into motion with three tactics that will have a big impact on small business. The first of these is his Economic Recovery Plan.

With the inauguration of a new President, the economy is at the forefront of everyone’s minds right now, especially since we’ve all been hearing so much about Obama’s groundbreaking Economic Recovery Plan. President Obama has been lobbying campaign-style for a two-step economic plan:

Phase one will involve the release of the second half of Bush’s $700 million bailout, an initiative that Congress approved last Thursday in a 52-42 vote.

The second part of the plan involves $825 billion in tax cuts and new spending to fuel the economy. While the second piece of the Economic Recovery Plan (which 58% of people surveyed by the Associated Press say will significantly improve the economy) is still in negotiation, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid believe the proposal will be ready for the new president’s signature as early as mid-February.

So, what does this mean for small business?

With the imminent jumpstart of the economy, clients and competitors alike will be more willing to take risks and seize new opportunities. Stay ahead of the curve by taking bolder businesses steps with more confidence today.

Is Obama’s Economic Recovery plan a bit bold for a brand new president? Perhaps. But, now more than ever, is the time for change and change takes confidence, courage, and risk. Next week we will be exploring this idea of how bold is too bold in today’s economic climate. Taking bold action as a leader, whether it is that of a business owner or manager or that of our new commander in chief, is essential in weathering the economic storm. It’s time for small business to grow and the only person who can grow your business is you.

Stay tuned for tomorrow’s blog about the New Small Business Administration appointment that may change the small business landscape as we know it.

Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this, America: They will be met.

-Barack Obama, Inaugural Address, January 20, 2009.


Remaking America: What the New Administration Means For Small Businesses

By perksconsulting |

“On this day, we gather because we have chosen hope over fear, unity
of purpose over conflict and discord.” –Barack Obama

The day we’ve all been anxiously waiting for has arrived and,
with it we have a new President. The time has come to usher in what
Barack Obama has called a new “era of responsibility.” Throughout his
inaugural address, President Obama enlisted all Americans to take part
in the quest to revolutionize this country in order to keep up with
the ever-changing times. With the economic and political crisis we current face, drastic action must be taken and now.

President Obama begins his first term with higher voter
expectations than any president in recent history.

“65% of the general public believe that President
Obama will be an “above average president,”

with 28% saying that he will be “outstanding” according to the Associated Press. With such high hopes for the future there is only one thing we all can do– pull up our bootstraps and get to work. This truly is, as President Obama says, “a moment that will define a
generation.”

Over the next few days, the Perks Consulting blog will feature
coverage of President Obama’s future plans and how they will affect
growing businesses. Stay tuned for news and opinions on the:

Economic Recovery Plan
Obama’s new appointment in the Small Business Administration
and an outline of the Obama-Biden Plan for Small Business.

“Our workers are no less productive than when this crisis began. Our
minds are no less inventive, our goods and services no less needed
than they were last week or last month or last year. Our capacity
remains undiminished. But our time of standing pat, of protecting
narrow interests and putting off unpleasant decisions — that time has
surely passed. Starting today, we must pick ourselves up, dust
ourselves off, and begin again the work of remaking America.”
-Barack Obama

CLICK HERE for the complete text of Barack Obama’s Inaugural Address.
CLICK HERE for Speech Video


Escaping the Crisis

By claire |

With Inauguration Day looming, there has been much debate about President-Elect Barack Obama’s bold new Economic Recovery Plan. Many people think that the plan is too bold given the amount of tax payer money that has been laid out by the Bush Administration. Yet, there are others who believe that this new stimulus may not be bold enough.

As the global economy comes to a screeching halt, it’s time to take our foot off the break and make innovative choices to create a fast-paced economy for the future. President Obama’s “Economic Recovery Plan” may be just the change we are looking for. His plan might be too bold, or not bold enough, but it’s certainly a brave and courageous one.

In today’s economic environment, it’s very important for entrepreneurs to understand how to deal with the current economic meltdown and the uncertainty that comes with it.

What can you do to keep your business growing?

1. Be alert to fleeting opportunities and nimble at seizing them.

Take advantage of the fact that many of your competitors are sitting on the sidelines, fearful to make a move. In order to better confront the economic “punches” coming from all directions, identify and seize one opportunity that could gain your market share or differentiate your company.

2. Cultivate your resources.

Your employees, vendors, clients, and customers are just as fearful as you are. Be the first one to reach out and lend a hand. People will remember how you treated them in the bad times far more than in the good.

Entrepreneurs should use agility to spot and exploit changes in the market, as well as withstand market shifts. Turning the crisis into an opportunity to strengthen your business is your best choice. Rely on your core competencies and capabilities to help your company and team not only survive- but emerge as true market leader.

So, how does Obama’s strategy affect your business? Are entrepreneurs being bold enough and smart enough to confront the crisis?

What are your comments and thoughts about Obama’s bold new Economic Recovery Plan? We’d love to hear from you.