Economic indicators are pointing to a change — will you be ready?
You don’t have to be an economist to know that there are economic cycles. As the economy changes business picks up, declines and then picks up again. Over the last year or so, I have shared some techniques to maximize revenue in service and repair businesses. When the economy took a dip, it was not unusual to see businesses in many areas of the country suffer. But times are about to change.
Several economic indicators are pointing to a change in economic conditions — a positive change for the better. For example, interest rates are approaching 45-year lows; the stock market is recovering; real estate prices in most places are peaking. All these events tend to show a growing and improving economy. Companies can expand easier and faster when the money they need to buy new facilities and increase capacity doesn’t cost as much to borrow.