As a POS system provider who caters mostly to small- and mid-sized businesses (and as a small business ourselves), we at AccuPOS pay extremely close attention to the overall small business climate and environment, as well as to legislation coming from Washington that affects small businesses. What with all of the hype and what looks to have been overhype surrounding the sequester, it would be easy for any small business proprietor to panic.
Turn and face the strain
When Barack Obama was in his first term many small businesses, including those selling POS systems, feared the effects his groundbreaking Affordable Care Act might have on their bottom lines. Even now, considering most of the law won’t take effect until next year, many business owners are taking preventative (pun intended) measures to mitigate the possible future effects of the healthcare law. Last week’s did little to assuage fears that this president tried to implement too much, too fast. But is it all bad news? Should we just accept our fate as a nation that will inevitably drown in Social Security spending and the Medicare abyss?
Keep calm and carry on
If you really stop and make a conscious decision to tune out the noise, the future for small businesses does not look so bleak. The Dow Jones, NASDAQ, and S&P have hit new records, home sales are up, and more businesses are hiring, albeit too slowly. The Congressional Budget Office estimates that healthcare costs will actually decrease for small businesses once the act is fully implemented. This might not sound like anything you’ve heard on MSNBC or Fox News. Aren’t we the next Greece? Or worse, Cyprus? Don’t we need more taxes and spending to jolt our economy to life? Or do we need fewer taxes and austerity measures to put us on what we hope will be a non-EU road to recovery?
The truth is that the United States is not Europe, and the hyperinflation that some doomsayers warned us about has not occurred. The bottom line is that as the economy continues to improve, more people will continue dining out. More people will continue shopping. After all, no one does conspicuous consumption like Americans. The more people go to restaurants and retailers, the more POS systems will be needed. So take a deep breath. The future looks brighter than we envision it on the twenty-four hour news cycle.