The need to change the current business environment
The current business environment is being strangled by our federal government. For years Washington has taken the position they know best for us and act as though they do. Nothing can be further from the truth. We are constantly being bombarded with new legislation and associated regulations not all of which are acceptable to the general public. Many times the objectives are identified for specific legislation but reality and the objectives often wind up at the other end of the spectrum.
Changing a business environment can only take root when government changes their policies and regulations. Our present economic state is causing businesses to rethink their plans. There are a few things hurting businesses today. One is critical in that they do not know what their expenses will be from one year to the next. Congress is constantly creating laws with new strings attached which cost businesses more money. This reduces the amount of funds available for businesses to hire employees or for potential plans for expansion. When businesses have increased expenses they not only affect their business but they affect their employees and customers.
Today there is more competition in some respects not only within our country but around the world. We are now a global economy though not all businesses operate globally. We know the economic conditions in place today but tomorrow is an unknown. Government at all levels can impact the economic conditions which will be in place in our future. It is necessary that government at all levels understand the needs of businesses in existence today and those that may be created in the future.
Our elected officials and in some respects those who work for elected officials must change their methods to improve economic conditions not make them worse. The constant gridlock in Congress today is adding to the uncertainty of the business environment of the future. Change in business is inevitable but businesses only have power to make some changes. The current technological environment is creating change at a faster pace than before and as such they take place more quickly. This is required to keep abreast of changes taking place in society and within competitors.
Changes in the function of government that affect businesses today and far into the future are must change. The constant addition of new or revised laws along with their regulations needs to change. Granted new situations occur which require revisions to current laws but changes in opinions or philosophy from one Congress to another is not justification to make changes. Congress was created to support our economy not negatively impact the business community with their laws and regulations.
The process of creating legislation and regulations needs to change. It is better to take time to create a new law or regulation which benefits our economy than to quickly pass legislation which negatively impacts our economy. There are times when legislation is within a few days to have a fast response to issues which causes revisions to be made which should have been in the original document.
Our economy is hurting and the business environment is hurting more today than in the past. It is understood some of the impact is a result of the downturn in our economic environment in past years but if Congress would look at some of the issues of the past and how they were resolved our economy would improve. We can learn from our past and put in place actions which resolved issues rather than using the same methodology from the past which failed.
Congress needs to concentrate on changing to a more business friendly environment than what they are presently undertaking. Part of this comes from the need to change our tax structure. The current tax structure is cumbersome to say the least and is not business friendly. Corporate tax levels are higher in our country than in other parts of the world. In the past when taxes were reduced our economy flourished unlike the predictions from some political officials. When individuals and businesses have more money and have an environment with is business friendly there will be need for more products and services. Granted some individuals will keep some of their increased revenue but they will have more to spend in the end. Congress needs to get their act together and pass laws favoring positive not negative change. Passing laws and creating regulations in spite of voter unpopularity may see the reaction in this election year.