Riding the Economic Roller Coaster

According to the latest news, we still have not recovered from tough economic times. The problem is still with the unemployment rate which does not seem to improve. You might think that your business is doing well, you have less than stellar sales generation but generally, you feel that you’re doing great. You might feel that somehow you are not affected by the forecast by the Congressional Budget Office (CBO) but you are dead wrong. If the economy would not pick up soon, your business would suffer. Even though small businesses generate more employment opportunities, it just is not enough for a fast economic recovery.

Although the CBO predicted that there would be at least a 3% recovery this year, the recovery from recession could still take a long time. The biggest impact of this would be for small businesses. While entrepreneurs find alternative ways to fund or finance their own businesses, because of the budget deficit, financial institutions would be unable to assist the development of businesses which is vital to the latter’s development. Even though President Obama is striving to make lending available for small businesses, this would not come into fruition until the economy is on a more stable footing.