Testing the new growth market
Although the last year has been one of the most contentious political years in memory, in business there are signs that new policies may be creating a growth environment that will benefit both small and large companies.
How do you view the outcomes of the last year, and how they might impact the way you do business?
Here are 7 results from the last year that are likely to impact business.
- Tax cuts:Congress has passed a tax overhaul that will cut the corporate rate to 21 percent.
- Economic growth:The gross domestic product has grown by more than 3 percent for two quarters in a row.
- Consumer confidence:In October, consumer confidence rose to the highest level in 17 years, according to the New York-based Conference Board.
- Deregulation:The Administration has cut 67 regulations. The rollback on regulations seems to have spurred business confidence, economic activity and stock market growth.
- Stock market:The Dow has set record highs 70 times last year, rising 5,000 points in a year for the first time in history.
- Unemployment: Trump inherited low unemployment numbers from President Obama, and the number of people collecting unemployment benefits has continued to fall to a near 44-year low.
- U.S. energy:The Keystone XL and Dakota Access pipelines are under construction; they are projected to create 42,000 jobs.
How will these changes impact your business in 2018?