Monday, November 17, 2008

Obama and the Future of Business

When Barack Obama won the US Election on November 5, it signaled a groundswell change in American history. The first black President and one of the least senior candidates ever, Obama’s victory marked just how much change the citizens of America felt was needed.

Yet while there’s no doubting the significance and historical aspect of Obama’s victory, what does it mean for businesses nationwide? After all, there’s probably never been a situation in the history of the Presidency exactly like the one facing the new incoming leader – two wars, economic meltdown, stock market uncertainty and environmental issues.

The good thing is Obama seems to be creating a solid team behind him as he prepares for office. Additionally, he’s already stated what his goals for businesses will be, and it’s clear that while some areas may be better served than others, the new President looks set to deliver on his promise of making America profitable again.

The businesses that seem set to benefit from Obama the most – at least initially – look to be the ones in construction and technology. This is an ideal mix for Obama to aim for – helping both blue and white-collar workers in one fell swoop, while planning on the next step in the economic recovery.

For example, Obama has said he wants to expand the roads and the bridges across America. This means that companies in the construction and engineering industries will be amongst the first to benefit from the new President.

The effects of this plan on America and her businesses in the months and years ahead are clear. Construction has long been one of America’s core industries and has helped the country become the nation it is today. Millions of families rely on the construction industry as their main source of income. With the announcement of bridge and rail expansion, Obama is sending out a clear message that he sees this industry as important as any other in corporate America.

Additionally, business owners in this industry will at least enjoy some smoother sailing after the many knocks they have taken over the last few years. Bridges and the supporting infrastructure that comes with aren’t built overnight – meaning longer-term contracts and improved outlooks for future business planning.

Of course, once these projects are complete, they will open the doors for other businesses to benefit with easier cross-state business partnerships opening up.

Another industry that Obama will be boosting is the technology one. He’s already made his intentions clear on this with the announcement that his cabinet will include some of the biggest names from the technology and online field.

While it’s early days yet, and things may change when Obama actually gets to the White House and is able to survey what exactly lies in front of him, one thing is clear. Although the US is in a mire at the moment – along with the rest of the developed world – businesses with a tie to construction and technology look set to be the first to start the steps to recovery.

With the changes that this month’s historic election are heralding for the country, at home and abroad, now is the time to look at your own infrastructure. Does it meet your customer and business needs, or does it need investment of its own? We are investing.