This is very hard to accurately gauge but very important to the economic success of any area.
Business climate is what I’d like to address this week. It is comprised of several different things and how they interrelate. An area’s business climate is the general economic environment related to government, politics, business activity, labor union relationships, tax policy, inflation, lending institutions, workforce, and more.
National, state, and local policy have impact on the overall business climate of an area. Currently on the national scene, there is strong business activity but challenging trade issues and an unsettling political climate. The state of Missouri is recognized as a state with low corporate tax rate, a central U.S. location, and home to many natural resources. It is also a place that recently soundly defeated Right to Work and has challenging infrastructure issues. Locally, there is a pro-business attitude, lots of positive activity, good labor relations, and a friendly financial system. But, like many places, workforce is a challenge.
Positively affecting the business climate is one of the main areas of focus for the Cape Chamber. We are advocates for pro-business policy at all levels of government. We work closely with existing businesses to address impediments to growth and to build on area strengths. We are strong partners with local education and financial institutions, and we are actively addressing workforce issues.