Managing a Small Business
The Roundup: Economy & Your Business
The Roundup is focused on giving you insight to power your business, news and stories you care about and advice to reach your business goals. Here's a look at the economic news that may impact how you do business.
In The News: The Great Rate Debate
When will the Federal Reserve raise rates? Another Fed meeting has come and gone and for now, they've kept everything the same.
Bloomberg suggests that Chair Janet Yellen has more than six million reasons to take her time. That may be good for you, as you have more time to prepare. Looking for a loan? Now may be the time to lock in before rates rise. Have an existing loan? You might want to pay down some debt now to avoid higher interest later.
Don't get too worried, though. Some economists and financial advisers suggest that a rate hike may give your customers just what they need: confidence in the U.S. economy, meaning they may spend more.
Chase Commercial Banking's head economist, Jim Glassman, took a look at what could happen when rates eventually rise. Watch the video.
On Main Street: Putting Your Money to Work
If consumers are shopping, they won't be doing it at REI on Black Friday. The sporting goods chain will close stores the day after Thanksgiving and pay its 12,000 employees to go outside, as CEO Jerry Stritzke says the shopping holiday is getting out of hand.
Strikzke did acknowledge that the move will impact his bottom line, telling CNN Money's Cristina Alesci, "When you close...on one of the busiest days of the year, it's going to cost you money." While the move may be expensive, perhaps it is signaling a new kind of consumer.
In The Corner Office: Economic Insight and Business Inspiration
In The 3Q Party Killer—Who Invited GDP? Jim Glassman is focused on growth, or perhaps a lack thereof. He says he's not worried about a slowing economy thanks to one word: retention. "The fact that businesses are not cutting workers provides a strong refutation to GDP's story of faltering growth," he says, a sign that perhaps your business exists in an economy on its way to surer footing.
For more from Jim Glassman, sign up for his webinar. He'll discuss his outlook for 2016 and provide insight to help you power your business.
What I Wish I Knew: Trust Your Gut
You may not be able to trust that the economy will always be in good shape. Certainly, we've had our share of ups and downs. But it may be important to trust your gut. Entrepreneur Jennifer Walsh, founder of The Beauty Bar, says this is the one thing she wished she knew when she started her business.
"Don't get me wrong, I'm not saying that I didn't or don't trust the people I surround myself with. Just listen to your body, those hairs on the back of your neck, that feeling like someone punched you in the stomach. Those are all signs that you need to listen to as a business owner."
For everything your business needs in one place, from news and expert tips to valuable products and solutions, visit chase.com/forbusiness .
Heather Freiser is an editor for Chase News & Stories. She was formerly a producer for Bloomberg Television and Fox Business News.