The U.S. Central Bank, commonly known as the Federal Reserve Bank, has origins extending back to 1791 when the U.S. Congress chartered The First Bank of the United States. It was the country’s first attempt at a central bank. But in 1811, the charter for the First Bank was not renewed.
2023 is a testament to an evolving business landscape shaped by unprecedented changes and challenges caused by hyperinflation, rising interest rates, politics, fear of a recession, and an ongoing Covid hangover affecting all areas of the business community. There are too many distractions and obstacles causing concern and panic among the working class and small business owners everywhere.
Will America face another banking crisis like 2008? The answer to this question truly depends on the future actions of the Treasury Department, the FDIC, and the Federal Banking Committee, which currently controls our interest rates.
From the disastrous FTX Super Bowl ads to Bitcoin ATMs, cryptocurrency has become mainstream. Year over year, the level of crypto scams has jumped exponentially in both the number of fraudulent transactions and dollar amount lost.
Proper planning will almost always ensure successful results. Lack of planning will result in unanticipated consequences that could have been easily avoided and may prove detrimental to the continued existence of the company. I am writing this article to provide specific insight and direction on preparing your business for the future.
To accomplish the task of survival and prosperity in 2022 and beyond, each business owner needs to get back to basic economics and accounting.
