February 2, 2017
In January 1981, after the country had suffered years of poor economic growth, excessive inflation, and crippling interest rates, a new president—Ronald Reagan—was inaugurated, promising economic growth through lower tax rates and business-friendly economic policies. Later that year, the Economic Recovery Tax Act of 1981 was enacted. Over the subsequent eight years, 20 million new jobs were created, inflation dropped from 13.5 percent to 4.1 percent, and real gross national product rose 26 percent. Many businesses prepared, utilizing their available resources, and took full advantage of that booming economic recovery.
Well, history may now be repeating itself. By the time you read this article, a new administration with a same-party Congress will be in power, promising similar tax cuts and business growth policies. The question is: How do we take advantage of this potential opportunity?
Probably the most valuable, industry-specific resource available to packaging operations is our own AICC. AICC’s mission is to support the growth and prosperity of packaging operations. AICC offers exceptional educational programs for your employees, in areas including production, customer service, safety, design, sales, finance, leadership, and sustainability. The industry support network is available to more than just your employees. AICC’s CEO Group program provides both owners and managers with the ability to meet regularly with their peers located in noncompetitive geographic areas to address facing their operations. This environment allows discussion of methods, policies, and procedures that have been effective for other members. Finally, AICC’s Associate Supplier network is also readily available to assist you with the evaluation of new and used equipment, plus services geared to the individual needs of your company based on both existing product lines and additional industry niches.
We all look back on favorable circumstances that we have both wasted and seized upon during our business careers. As entrepreneurs, we tend to look at our successes as “what we were expected to do” and beat ourselves up about our failures to identify and/or respond to missed opportunities.
J. Paul Getty once said, “There are always opportunities through which businessmen can profit handsomely if they will only recognize and seize them.”
Over the past several years, we have become too familiar with unfriendly government tax, environmental, and regulatory policies. The upcoming favorable business growth climate comes along rarely. Utilize AICC’s vast educational lineup, CEO Group Program, and Associate Supplier resources to prepare your business to take full advantage of the opportunities that lie ahead.
This article was written by Ed Gargiulo.
