ISmall-Business.net

Intelligent Business Solutions

  • Home
  • Strategy
    • Small Business Strategy
      • Combining Niches to Maximize Profit Potential
      • High Ticket Versus Volume Niche Selection
      • How to Know When to Cut a Business or Niche Loose
      • Never Put All Your Eggs in One Basket
    • Sales Strategy
      • Facebook Networking Versus Paid Advertising
      • Brainstorming a Successful Sales Funnel
      • Best Practices for Profitable List Building
      • Backend Sales Strategy Tips
      • A Better Way to Use Webinars for Profits
      • Creating a Welcome Email That Makes Money
    • Production Strategy
    • Human resource strategy
  • Management
    • Business action plan
      • 7 Things to Send JVs to Get Them Onboard
      • Don’t Make JV Promises You Can’t Keep
      • How to Host a Challenge and Maximize Profits
    • Small Business Management
      • Putting Profit Tasks First During Time Management
      • How Self Doubt Sabotages Your Financial Success
      • Repurpose Your Content to Save and Make Money
    • Business Management Topics
      • Fighting the Stigma of Failure
      • Figuring Out the Perfect Launch Date and Time
      • Bonus Creation That Catapults You to Leaderboard Domination
      • Do Customers Prefer Video or Text Courses
      • Minimize Your Risk of Refunds with These 5 Tips
      • How Often Should You Email Promo Material
      • Narrow Niche Domination
      • Perfecting the Launch Process for Increased Profits
    • Business Management Blogs
      • Nobody Expects a Perfect Expert
  • Ideas
    • Find business ideas
      • 5 Lucrative Non IM Niches
      • 6 Niches That Are Hot on Social Networks
      • Are PLR Stores a Viable Way to Make Money
      • How to Know If a Membership Site Is Right for You
    • Idea feasibility
      • How to Make Money Off a $7 Product
      • Recurring Income Options
    • 10 top business ideas
      • Could Coaching Bring in More Money Than Products
      • Individual Coaching Versus Group Coaching Profits
      • Building a Reputation as a Powerful Affiliate
      • Pinterest Profit Niches
    • Low cost business ideas
      • Making Money Off eBooks and Reports
  • Valuation
    • Business Valuation
    • Increase business valuation
      • Making Wise Investments in Tools to Further Your Business
    • Business Valuation Methods
    • Understand business valuation
  • About
    • About Me
    • Blog
    • Contact Us
    • Sitemap
    • Privacy Policy
  • Strategy
  • Supply Chain
  • Customer Focus
  • Entrepreneur
  • Biz Opportunities
You are here: Home / Strategy / Small Businesses Shouldn’t Be Impacted by Tariff Battle, White House Spokesman Says

Small Businesses Shouldn’t Be Impacted by Tariff Battle, White House Spokesman Says

November 6, 2018 by Asif Nazeer Leave a Comment


Small Businesses Shouldn't Be Impacted by Tariff Battle, White House Spokesman Says

In a recent discussion on the state of small business, White House National Economic Council Director Larry Kudlow insisted the impact of the current trade war between the U.S. and China on small businesses would be minor. Kudlow went as far as to say the economic growth would remain strong.

Kudlow and Bluemercury Co-founder and CEO Marla Beck discussed the factors that matter most to small businesses at The Washington Post’s The State of Small Business recently. Small Business Trends attended the event to find out more about the current state of the big things on the radar for small businesses like wages, taxes and hiring.

Kudlow is the Assistant to the President for Economic Policy and Director of the National Economic Council. He began by making it clear he didn’t see the current tariff battles between China and the United States as particularly worrisome for small businesses calling any possible effect on the economy “very modest.”

Economic Growth of 3% Expected

In fact, he even went on record forecasting the current rate of economic growth at 3% was something they could expect into 2019.

“We will put out our budget and while I don’t want to give away the family jewels, three percent is a good number to think about,” he said at the discussion held at the newspaper’s offices on Nov 1.

Tariff Battle Impacts Small Business

Despite these reassurances, the current trade war between the two countries has been a concern for a number of American small businesses like farmers and those in other industries like manufacturing. In response to the tariffs they see as a drag on their operations, groups like Tariffs Hurt the Heartland, Farmers for Free Trade and American For Free Trade have sprung up.

Job Surge Seen As Evidence of Optimism

However, Kudlow cited a Washington Post article on the current job surge for blue collar workers and the fact the wages for the group were growing faster than their white-collar counterparts.

“That suggests to us that the business tax reforms and tax cuts are working,” he said. The Tax Cuts and Jobs Act came into effect this year.

Kudlow also took sides when it came to the idea of implementing a federal minimum wage, calling it a terrible idea and saying it would damage small businesses particularly.

Healthcare and Technology Also Discussed

On the healthcare front, another area where there’s been some uncertainty for small businesses, while the administration has taken steps toward replacing Obamacare, Kudlow said there were no plans to touch the larger entitlements, namely Social Security and Medicare.

Co-founder and CEO of Bluemercury Marla Beck was another panelist. She stressed, among other things, the importance of technology to small business success generally and how critical social media had been to her niche specifically.

“For beauty, Instagram provides a marketing opportunity that didn’t exist before,” she said. “It’s very democratic and you have a lot more diversity in terms of what’s available. It’s fundamentally affecting the categories of business.”

Instagram Creates Whole New Business Models

She also pointed to facial masks and lipstick as two of the categories that have been fundamentally changed by this social media tool. Beck also said Instagram has created whole new business models for entrepreneurs to take advantage of.

“There’s even a brand called Winky Lux that built their whole business via Instagram and now they’re turning the retail model on it’s head. They have a store in New York City where they charge you $10 to get in but every room is Instagramable,” she said.

Social Media Streamlines Customer Feedback

She says that because Instagram gives access to customer feedback right away, it’s even sped up the pace for changing her merchandising.

“It used to be we’d go into the stores and talk to our customers, interview them and even email them and now you can look everyday to see what’s trending,” she told one of the moderators.

Image: Washington Post

This article, “Small Businesses Shouldn’t Be Impacted by Tariff Battle, White House Spokesman Says” was first published on Small Business Trends





Source link

Filed Under: Strategy

About Asif Nazeer

My current sphere of interest is Internet Marketing - Worked for many years in finance and banking. I now consult for small businesses and starts ups. Also involved in venture capital for new companies.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign up for our newsletter and receive a free EBook on how to boost productivity






Find it

Blog By

Small Business Consultant and Accountant helping grow your small business Read More…

Follow us online

  • Email
  • Google+
  • LinkedIn
  • Twitter

Recent Posts

A Beginner’s Guide – Running Your Business

Featured image by Kindel Media via Pexels Many factors contribute to the … [Read More...]

  • 2023 Beginner’s Guide – Marketing
  • Desktop Fiber Laser Engraving Machines and Their Uses – Business
  • How to Rebuild a Business Hit with Water Damage – Business

Archives

  • February 2023 (1)
  • January 2023 (5)
  • December 2022 (5)
  • November 2022 (8)
  • October 2022 (7)
  • September 2022 (6)
  • August 2022 (6)
  • July 2022 (13)
  • June 2022 (11)
  • May 2022 (7)
  • April 2022 (8)
  • March 2022 (12)
  • February 2022 (8)
  • January 2022 (11)
  • December 2021 (9)
  • November 2021 (10)
  • October 2021 (11)
  • September 2021 (3)
  • August 2021 (10)
  • July 2021 (12)
  • June 2021 (5)
  • May 2021 (10)
  • April 2021 (17)
  • March 2021 (40)
  • February 2021 (39)
  • January 2021 (58)
  • December 2020 (66)
  • November 2020 (59)
  • October 2020 (38)
  • September 2020 (47)
  • August 2020 (37)
  • July 2020 (2)
  • May 2020 (1)
  • April 2020 (1)
  • March 2020 (33)
  • February 2020 (25)
  • January 2020 (20)
  • December 2019 (27)
  • November 2019 (28)
  • October 2019 (34)
  • September 2019 (38)
  • August 2019 (13)
  • July 2019 (44)
  • June 2019 (40)
  • May 2019 (58)
  • April 2019 (51)
  • March 2019 (43)
  • February 2019 (44)
  • January 2019 (43)
  • December 2018 (47)
  • November 2018 (43)
  • October 2018 (58)
  • September 2018 (44)
  • August 2018 (60)
  • July 2018 (49)
  • June 2018 (58)
  • May 2018 (54)
  • April 2018 (39)
  • March 2018 (46)
  • February 2018 (48)

Biz Opps

Featured image by Kindel Media via Pexels Many … [Read More...]

As companies continue to intensify efforts to … [Read More...]

Featured image from Unsplash Laser devices can … [Read More...]

Customer Focus

First published in Exchange, the magazine of the … [Read More...]

Entrepreneurs

Uptown Cheapskate is a resale store for young … [Read More...]

A team of neuroscientists in the United States … [Read More...]

This article was translated from our Spanish … [Read More...]

Strategy

If you buy something through our links, we may … [Read More...]

In helping celebrate Black History Month, Facebook … [Read More...]

ZOHO started its current Email Marketing Basics … [Read More...]

Supply Chain

Although managing inbound shipping can be … [Read More...]

© Copyright 2015 iSmall-Business.net · All Rights Reserved · Powered by ISmall-Business.net · Admin