It’s the Uncertainty, Stupid
Business slow? It could be election anxiety. As November 5 nears, businesses and consumers alike are putting off big decisions.
Good Morning!
Here are today’s highlights:
The evolution of ‘Shark Tank’ tracks the evolution of American entrepreneurship.
John Arensmeyer of Small Business Majority highlights the most important election issues for business owners.
If this is what private equity does to hospitals, what would it do to your business?
Step one in disaster prep: Do you know where you can get a dumpster?
THE ECONOMY
Right now, a lot of people are wary about spending money: “The American pastime of spending money on stuff — a honeymoon in paradise, that new car smell, a kitchen renovation, impulsive online shopping — is currently on pause for some. There are engaged couples so preoccupied with the current state of affairs that they can’t commit to wedding venues for 2025, and some who, a year ago, anticipating that a political pall could color their big day, steered clear of October and November dates. Car dealers and real estate agents say buyers are waiting out the election to see if interest rates or prices fall in the aftermath. Online retailers have been bracing for the election jitters since the summer.”
“‘They’re frozen,’ Antonio del Rosario, a New York City real estate broker, said of home buyers and sellers. Election-related angst sets in around this time every four years, he said, with buyers and sellers wondering if a new administration will mean a change in tax policy, the economy, or the overall direction of the country.”
“While this year’s election might feel exceptionally fraught, with the economy and housing costs top of mind for many voters, there have been plenty of nail-biters over the past 25 years, including Bush versus Gore and Clinton versus Trump. ‘Every four years this happens,’ said Jerry Reynolds, a former car dealer and the host of the CarPro radio show. ‘It’s the uncertainty.’”
“The impact might ultimately be more like a blip, with any reluctant consumers opening up their wallets later in November, once they know what the political future holds. But it is clear that the election is weighing on consumer sentiment and the spending outlook right as the retail industry enters its most important time of year: the holiday season.” READ MORE
