By Barbara Nuss, CPA
Founder, Profit Soup
Many entrepreneurs recall being caught off-guard when pandemic-inspired business interruptions, labor challenges and supply chain disfunction wreaked havoc with cost structures. How could you see that coming? Nobody could. Not the case today. Astute planners contemplating their goals and budgets for 2025 are already factoring in how pending National policies could impact their cost structure.
What Does Your Crystal Ball Say?
A few key uncertainties have me wishing for a crystal ball. One that could see through the post-election politicizing of important topics. I’d know how to predict the cost impacts of changing labor policies, possible tariffs, housing supply and demand, and deportations and immigration’s effect on labor supply. Unfortunately, I do not have such a crystal ball, so I will do the next best thing; guess, and hedge my bets by paying attention and staying nimble.