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Small businesses in U.S. facing summer of uncertainty

14 Comments
By MAE ANDERSON

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14 Comments
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If your business plan does not account for unexpected hard times, you do not have much of a business plan.

-4 ( +0 / -4 )

People are willing to spend on holidays as they are an escape rather than a daily cost. Economically, they should be the first thing that people chop from their budgets, but the reality, especially for families, is that they are usually the last expense to be axed. Many working class families save through the year to escape their job and neighbours and go somewhere pleasant. If food and energy is expensive, you may as well go on your hols and pay for it somewhere nice, than be financially locked down in homeprison and pay for it there. Go somewhere sunny in the winter and you can save even more on the heating bills than you used to.

The economic bands are adjusting as some folk who were pushing their limits drop down a notch. Good destinations may be easier to book, especially at the last minute. There should be deals out there. The pandemic has hammered many economies and some countries that you might not have considered are now making a big play for your holiday spending. Governments can only delay processing security passes for so long, so airlines should be fully staffed by the summer. Another crop of school-leaving teens will be hitting the job market, so hospitality jobs may fill up too. Excluding Japan, which is doing the tour thing.

Don't fret so much about Covid. Western governments are now skating on thin ice with inflation and will not want to make themselves even more unpopular. But do follow all local rules when abroad, especially in Asia. Despite Covid being one virus, with variants crossing all border blocks, government responses vary. The more docile the citizens, the tougher the rules, across the spectrum from Republican States (mask mandate bans) to China (prisons within prisons).

Turkey (a popular destination for Russians) has dodged US sanctions and is using the Mir payment system to make up for Visa and Mastercard blocks on Russian accounts. Ironically, Visa's software is not authenticating my new card here in the UK on some websites, so Russians on Turkish beaches are fine, but I'm reliant on workarounds. Turkey has launched an extensive advertising campaign in the West too.

Anyone relying on Chinese tourists will suffer, as Xi may not let them out to play. Older people may also be more nervous about Covid, and stay at home. But not all of them - responses vary. See who is booking and prepare to tailor what you offer accordingly. You should have learned the value of flexibility over the last two years, if nothing else.

0 ( +1 / -1 )

The entire US has “uncertainty” as long as Biden is president,

his policies killing the economy and the market. Food prices, gas prices, record inflation. Crime, borders. All of these negative affect business but especially small ones.

1 ( +3 / -2 )

The entire US has “uncertainty” as long as Biden is president,

Should they re-elect the attempted seditionist again? Is that the solution?

-3 ( +1 / -4 )

Absolutely.

0 ( +2 / -2 )

Did we have any of these problems when he was there?

The economy was a complete disaster four years after he left office, and ALL Americans were in a worse place than when he took it.

-3 ( +1 / -4 )

As you have noted may times that you are a HK resident staying temporarily in Canada

?? Now you're getting yourself all confused again. I've never lived in HK. Oh dear.

-1 ( +1 / -2 )

The Simpsons was right: Democrats can't govern.

0 ( +1 / -1 )

"Biden, July 19: No Serious Economist Thinks Unchecked Inflation Is on the Way"

Wrong, again.

-1 ( +0 / -1 )

The economy was a complete disaster four years after he left office, and ALL Americans were in a worse place than when he took it.

Look at inflation, gas prices, food prices, supply chain, the market.

Any survey of Americans shows that 70-80% of Americans are not happy with the direction of the country and think their own financial situation will not improve.

You do know GDP is negative now and only projected for +0.9% for Q2?

Wrong, again.

0 ( +1 / -1 )

Americans have a bad habit of blaming current presidents for previous presidents mistakes.

The pandemic has not gone away.

Labor shortages are still in effect.

Supply chains are still in turmoil.

Oil companies are price gouging and Russia has screwed up wheat and oil markets, not Biden.

Businesses that have no plan for tough times deserve to go out of business. You know, supply, demand, free market, rugged individualism, bootstraps, personal responsibility. All the things they like to preach. Now they can sleep in that bed they've made.

Because they can't be hypocrites, can they?

-1 ( +0 / -1 )

All I know is that there are zero market gains in the entire Biden Presidency now. and that there has been 1 positive week in the market in 10 weeks. So it’s killing businesses small and large.

https://www.cnbc.com/2022/06/12/stock-market-news-open-to-close.html

look at that chart. That’s not Putin.

10 million people returning to work isn’t 10 million jobs created. It’s the same jobs as before. Just working at McDonalds instead of Burger King.

0 ( +1 / -1 )

The cost of gas, food and other necessities jumped in May, raising U.S. inflation to a new four-decade high and giving American households no respite from rising costs.

Consumer prices surged 8.6 per cent last month from 12 months earlier, faster than April’s year-over-year surge of 8.3 per cent

https://worldabcnews.com/u-s-inflation-rate-defies-expectations-again-to-rise-to-another-40-year-high-of-8-6/

0 ( +0 / -0 )

https://www.cbsnews.com/news/inflation-corporate-profits-record/

For some reason, corporations had records profits. Despite shortages.

It's an immaculate miracle!

0 ( +0 / -0 )

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