We're all familiar with the classic holiday song “All I Want For Christmas Is My Two Front Teeth.” With the current economic downturn, some businesses feel like they've had their teeth kicked in. Agreed? As we consider the prospects for business, our own, our communities', our region, state, and nation, the end of 2011 will either be better, worse, or about the same. So arguably, all we may want for our business is our teeth left intact, figuratively speaking.
Fear not, for I believe that economic recovery, on all levels, could very well get the boost we've been waiting for this year. The general consensus appears to be that of cautious optimism. The U.S. Chamber of Commerce feels that we began 2011 in a lot better shape than last year and overall American business is improving.
As with most scenarios in life, each specific occasion presents a list of opportunities and a corresponding list of challenges. The defining moment of success will be determined by our willingness, as business owners, employees, and in our government, to find common ground in the way of an unabashed commitment to overcome the challenges and seize each and every opportunity to achieve economic recovery. In other words, it won't just happen. We must be very specific and purposeful to experience once again an economic engine operating on all cylinders. Here are some insights of other business organizations that are working to kick our economy into high gear.
The aforementioned U.S. Chamber feels that in order to spur our national economy, We must address (partial list – to see more of their strategies, visit www.uschamber.com):
1. Regulatory restraint and reform
? Work to reform the regulatory process and restore some badly needed balance, restraint, and common sense.
2. Expanding American trade
? Work to pass the pending free-trade agreements and launch a major initiative to educate citizens and policymakers on trade that will clearly link global engagement to American jobs.
3. Rebuilding our economic platform
? Rebuild America's economic foundation, the platform our society runs on. Roads, bridges, rail and mass transit networks, airports, and air transport systems must be modernized. Broadband capacity, power generation, and water supplies must be expanded. We can create jobs, reduce our trade and budget deficits and increase our own security by developing all forms of alternative, renewable, and traditional energy.
4. Reducing deficits and debt
? Support congressional efforts to lower spending. We will make the case for entitlement reform as any plan that fails to tackle these runaway programs is doomed to fail. We will also support efforts by Republican and Democratic governors to challenge public employee unions and their excessive payroll, health, and retirement demands.
Additionally, the California Chamber of Commerce, statewide associations, local economic development and business organizations have come together and created the Agenda for Economic Recovery (www.economicrecoveryca.org). This is a multi-year effort aimed at reframing the debate in Sacramento away from the yearly budget battle toward a commitment to economic growth as the only real way to fund California's priorities.
This agenda includes:
Develop an economic growth strategy
? We need a proactive strategy to stimulate job creation.
Drive business investment and retention —
We need to package statewide incentives to attract new companies;
Require an assessment of economic impacts — We need to ask the fundamental question, “Does the program cost or create jobs?”
Establish accountability metrics, We need to ensure that every state program has clear goals and performance outcome measures.
We could be well served by applying this same framework to our regional and local environments as well.
How 2011 ends up – an economic boon or bust, is largely up to us.
We, as business owners, employees, and government, can help control our own economic destiny, while believing the state and national efforts by our counterparts are successful as well.
You can count on the continued efforts of the Carlsbad Chamber Government Affairs Committee to seek these opportunities, as we meet the challenges that generally
accompany them.
Fear not, for I believe that economic recovery, on all levels, could very well get the boost we've been waiting for this year. The general consensus appears to be that of cautious optimism. The U.S. Chamber of Commerce feels that we began 2011 in a lot better shape than last year and overall American business is improving.
As with most scenarios in life, each specific occasion presents a list of opportunities and a corresponding list of challenges. The defining moment of success will be determined by our willingness, as business owners, employees, and in our government, to find common ground in the way of an unabashed commitment to overcome the challenges and seize each and every opportunity to achieve economic recovery. In other words, it won't just happen. We must be very specific and purposeful to experience once again an economic engine operating on all cylinders. Here are some insights of other business organizations that are working to kick our economy into high gear.
The aforementioned U.S. Chamber feels that in order to spur our national economy, We must address (partial list – to see more of their strategies, visit www.uschamber.com):
1. Regulatory restraint and reform
? Work to reform the regulatory process and restore some badly needed balance, restraint, and common sense.
2. Expanding American trade
? Work to pass the pending free-trade agreements and launch a major initiative to educate citizens and policymakers on trade that will clearly link global engagement to American jobs.
3. Rebuilding our economic platform
? Rebuild America's economic foundation, the platform our society runs on. Roads, bridges, rail and mass transit networks, airports, and air transport systems must be modernized. Broadband capacity, power generation, and water supplies must be expanded. We can create jobs, reduce our trade and budget deficits and increase our own security by developing all forms of alternative, renewable, and traditional energy.
4. Reducing deficits and debt
? Support congressional efforts to lower spending. We will make the case for entitlement reform as any plan that fails to tackle these runaway programs is doomed to fail. We will also support efforts by Republican and Democratic governors to challenge public employee unions and their excessive payroll, health, and retirement demands.
Additionally, the California Chamber of Commerce, statewide associations, local economic development and business organizations have come together and created the Agenda for Economic Recovery (www.economicrecoveryca.org). This is a multi-year effort aimed at reframing the debate in Sacramento away from the yearly budget battle toward a commitment to economic growth as the only real way to fund California's priorities.
This agenda includes:
Develop an economic growth strategy
? We need a proactive strategy to stimulate job creation.
Drive business investment and retention —
We need to package statewide incentives to attract new companies;
Require an assessment of economic impacts — We need to ask the fundamental question, “Does the program cost or create jobs?”
Establish accountability metrics, We need to ensure that every state program has clear goals and performance outcome measures.
We could be well served by applying this same framework to our regional and local environments as well.
How 2011 ends up – an economic boon or bust, is largely up to us.
We, as business owners, employees, and government, can help control our own economic destiny, while believing the state and national efforts by our counterparts are successful as well.
You can count on the continued efforts of the Carlsbad Chamber Government Affairs Committee to seek these opportunities, as we meet the challenges that generally
accompany them.