Harry Truman famously said he wanted a one-handed economist—one who wouldn’t constantly alternate between “on one hand . . .” and “on the other hand . . .”. It is certainly true that we economists are a group that is very insistent on weighing both costs and benefits of any particular decision. In our field, […]Read More
The extent of COVID-19’s impact on businesses and local communities is still unknown. Although there is uncertainty, we do know that the business community will have to adapt and find creative solutions to remain agile in an ever-changing business environment. The manufacturing sector is no exception. The pandemic has forced manufacturing industry leaders to rethink […]Read More
On Monday, April 20, 2020, the world watched the price of a barrel of oil drop below $0 for the first time ever. In fact, prices reached a staggering $-37 per barrel, sending shockwaves through an economy that was already hurting due to COVID-19. Currently, the oil and gas industry is still struggling to find […]Read More
The COVID-19 pandemic has swept across the country and had a widespread impact on the economy. In Texas, and especially in Houston, we are experiencing the painful compounded effect of the virus and a decline in oil prices, which have resulted in significant jobs losses, facilities closures, and bankruptcies. Yet to be determined are the […]Read More
Recovery from the economic hardships of the COVID-19 pandemic isn’t going to be easy for anyone, but it will be especially hard for entrepreneurs and small business owners in underserved communities. Often minority-owned, these businesses are essential to supporting their local communities as well as the overall economy. As we continue to experience the fallout […]Read More
Experienced business owners have known for years that if you aren’t able to or willing to adapt, it will make growing your business difficult. COVID-19 has only expedited this process for many. Those businesses that were continuously adapting before COVID-19 are seeing their efforts pay off now. Since March, we have seen businesses quickly pivoting […]Read More
I always wondered if my generation would ever have a mega event that challenged us in a way that past ones have other generations. Thankfully, we have missed out on so many of the major events that our relatives battled in their lifetimes, including the Spanish flu, the Great Depression, the Dust Bowl, World War […]Read More
Leveraging lessons learned from the 2008 recession to prime your business for success Statistically speaking, the majority of businesses around today didn’t exist during the 2008 recession. According to JPMorgan & Chase Co., “51 percent of small businesses are 10 years old or less.” And you’re likely already familiar with the daunting survival rates of […]Read More
If any state has the spirit of perseverance baked into its soul, it’s Texas. Our long and storied history as a state shows that even though we may get knocked down, we always get back up. When COVID-19 followed us in the spring of 2020, many entrepreneurs and businesses struggled to find their fiscal footing. […]Read More
Are you and your business hunkered down waiting for the “new normal?” Forget about it. There is no more new normal. There is only a New Next. We will emerge from this COVID-19 fueled economic crisis to find that some things look familiar, but that nothing is the same. A sense of “normal” won’t return […]Read More
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