The Finance Chiefs of 20 nations met over the weekend at the Pudong Shangri-la Hotel in Shanghai, China, and the result was no coordinated action. What does this mean for small business owners in the USA ? It means there will not be any policy action from the top to help us entrepreneurs at the bottom. While macro indicators and policy events may seem too far removed for us small business owners to be concerned with, the opposite is true, the policy set by the so called global elite does effect us in one way or another, many times there is a delayed reaction from the time the words are spoken to the time your small business would feel the effects of any new policies, so I am a firm believer of following both local and global trends for managing activities and expectations of my business and my clients.
With that said, remember the most influential factor of your businesses success is you and your local specifics, macro events could be viewed as a forward indicator because of the delay I spoke of in the above paragraph. If the G-20 were to pull out the 'bazooka' later this year with some coordinated action, it would be a few months after the announcement before the said policies would even come to fruition.
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