Given the current, widespread uncertainty in our economy, both challenges and opportunities exist for U.S. small businesses.
Chad Moutray, chief economist and director of research for the Office of Advocacy of the U.S. Small Business Administration (SBA), does a good job of highlighting some of the key challenges and opportunities in a new paper titled “Looking Ahead: Opportunities & Challenges for Entrepreneurship and Small Business Owners.”
Among the challenges Moutray notes are strengthening the economy, tax and regulatory costs, health care costs, and attracting and keeping good workers. Opportunities include investments in technology and innovation, pursuing new markets overseas, and education and training.
Moutray concludes: “Americans will head to the polls in a matter of weeks. Many of us will be looking to our leaders for solutions to the challenges confronting small businesses across the country. Putting in place policies that promote economic growth and stability will allow entrepreneurs to more easily exploit the opportunities that confront them.”
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
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