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Business resurgence catalyst crystal clear, says economist

On Behalf of | Oct 1, 2018 | Business Formation & Planning |

It’s not rocket science, implies a noted business economist/commentator in a recent take on national economic trends and demonstrated growth.

It’s actually more like dominoes. Once a positive development is implemented and gains traction, it kickstarts something else that is positive and then, well, you get the picture.

The above-cited writer is William Dunkelberg, who serves as chief economist for the National Federation of Independent Business. The NFIB has been a prominent small business advocacy organization for decades.

Dunkelberg’s bottom line on business health is essentially quite simple and underscored by one salient and recurring point.

And that is this: American business growth – or lack thereof – is largely determined by the degree to which government regulators either roil the economic waters or just back away from the process of growing wealth.

Take a guess as to which of those alternatives Dunkelberg favors.

It’s really not even a close call for him or, frankly, for legions of business owners across Connecticut or the rest of the country. Their mantra is a “back off” admonition to government bureaucrats whose inclination is to steadily add more layers and complexity to the already existing hoops and hurdles surrounding business creation and profitability.

Dunkelberg says that the NFIB likes what it is seeing now, which is expanding business confidence resulting in greater earnings, raises paid to workers, new hires, debt paydown and capital expansion. Companies of all stripes are reportedly profiting from recent tax cuts and pro-business enactments that evidence a regulatory retreat and a progressively hands-off government approach to business development.

That is very good news, says Dunkelberg, who writes that reduced government interference enables markets to more freely operate in ways “that increase the supply of goods and services and improve the quality of life for everyone.”

Many Connecticut businesses are benefiting from a series of pro-business government moves. Company principals focused on new challenges and opportunities might reasonably wish to consult with proven commercial law attorneys at an experienced business law firm.