What the current political and economic climate means for small business owners – Gene Marks

On the latest episode of the Atlanta Small Business Show, anchor Jim Fitzpatrick is joined by Gene Marks, author, columnist, keynote speaker, and small business expert. As a columnist, Marks has contributed to publications such as The New York Times, The Washington Post, Forbes, and more. Marks has also written five books on business management, specifically aimed towards small to midsize companies.

Marks begins the conversation by discussing the issues that are currently facing small businesses. He says the main takeaway he has from observing small businesses during the pandemic is the resiliency these companies have shown. Despite facing an economic crisis due to COVID-19, many businesses have found success by pivoting their business model.

Marks says that the new presidential administration could be good for businesses moving forward. While the Trump administration was very business-friendly, many businesses struggled with the sporadic nature of the administration. While President-elect Joe Biden might not be as business-friendly as his predecessor, the new administration is expected to be a lot more predictable and stable enough to allow business owners to plan for the future.

Marks concludes the conversation by discussing the current state of credit and capital availability. Marks says that while the capital is still there, banks are being much more cautious about who they’re lending money out to compared to the 2009 recession. Marks advises small business owners to file for an SBA loan, which are still available for business owners. 

This segment brought to you in partnership with SAP Software Solutions.

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