Once upon a time, most people in the United States didn’t really care about politics on a local level – or a state level.
Heck, there was a time when many Americans I knew couldn’t even really remember the name of the Vice President. Those days, though, are very much over.
Every other day, we all become a little more aware of how politics and government policy affects entrepreneurs. It’s hard to ignore these days, primarily because the effects of the current American political climate are now about as extreme as they can possibly get.
Speaking as an entrepreneur, I’ve noticed plenty of ways the new way politics are changing the way I do business – especially when it comes to these issues below.
Taxes and Regulations
Yes, taxes and business regulations are and have always been a major effect politics. That has never changed. When politicians change the laws regarding business taxes and other important issues, it’s important to have a strategy to help keep your company profitable. That’s why most entrepreneurs hire accountants and keep abreast of taxes.
Most business owners out there quake in fear of the regulation side of politics, even more so than the tax issue. A single law can be enough to shut companies down. At times, it can also affect profits. Unpopular regulations tend to mean angry business owners, disgruntled workers, and upset customers. Dr. Bart Rossi, Political Psychologist shares “Business owners should always be abreast of what is going in in Politics as it will have the profound impact on your bottom line when items and enacted into law, especially tax laws and regulations”.
Working for a Cause
One of the more inspiring things I’ve noticed is that many business owners are now starting to offer fundraisers for causes they are aligned with. This is a direct effect from all the political turmoil currently gripping the nation, and at times, can even be the reason a company starts up. Some startups, such as AllyUs.org, are a direct result of people feeling disenfranchised by the political system today. It’s clear that others will continue to pop up in future years as people get more active in their political world.
Believe it or not, this has been one of the most striking ways that companies and entrepreneurs have started to get affected by policies. Due to the extreme nature of politics, more entrepreneurs than ever before are having to think about how to deal with clients who have extreme beliefs or otherwise may act out if denied service due to their politicized behavior. Tom La Vecchia, Publisher of www.NewTheory.com and Podcaster says “Be mindful of how your front line employees are interacting with your clients and that personal politics do not get in the way of exceptional customer care”
Arguments over politics get heated these days, and that means that entrepreneurs often end up having to draw the line when it comes to acceptable conduct dealing with their business. It’s not always easy to be a mediator between groups, and it’s even more difficult to deal with trying to make a policy that works to keep conflicts and bad press related to politics to a minimum.
Every day seems a little bit more politically charged than the last. Every entrepreneur I’ve spoken to has been saying the same thing. It’s not always a bad thing, however, getting used to the newly electrified political world is something that we as company owners owe to our clients, employees, and local communities. Dr. Wendy Osefo, Professor at John Hopkins and National Political Commentator, “It’s ok to have a dynamic political discussion, just keep it out of the way of doing business as an Entrepreneur”. Dr. Osefo is right as it’s important to know what is going but not get dragged into a political battle when trying to run your business.