In this Episode
In our first “5 in Five” episode, Andrew Sherman answers five questions about inflation, rising interest rates, and investing in your business. He also takes out his crystal ball to predict the financial outlook for business owners for the second half of 2022.
Andrew’s Call to Actions:
- SMB financing is robust today. Investors who were worried about the impact of COVID and other things are now coming back onto the playing field.
- There might be up to four interest rate adjustments at a quarter point each in 2022. However, in terms of actual cost to capital and the impact on a small business borrower, it is minimal compared to other priorities facing business owners.
- The next six months should be strong. But we have four or five issues—inflation, supply chain issues, COVID, workforce shortages, and geopolitical threats—that are looming. If they are resolved by summertime, we could see a very strong second half of the year. If those five issues are still looming, it could be a dark fall and winter for business owners.
- Be resilient and adaptable. If you don’t continue to tweak your business model and your target markets, you run the risk of failure.
- Take NOTHING for granted.
- Take care of your employees and do what you can to keep them. Look at your value proposition. It attractive enough to recruit the best employees for your business?