The government shutdown is affecting some businesses in ways that you might not expect. I had a client tell me about one the other day, things I had not even thought of. So is the government shutdown affecting your business in an unusual way? The answer, if your phones are quiet and emails are infrequent at the moment, is probably yes.
At that means it is affecting your content marketing strategy too. When finances are uncertain, one of the first things to go is the marketing budget, and high on the list of things to cut first is content marketing.
Some would tell you this is a mistake, and I would agree in many ways, but I am not here to pressure you. Instead, I just want to let you know the facts about how “non-essential” parts of the government shutdown could be affecting your business.
The Stock Market
Let’s face it, investors at the moment are nervous, and understandably so. We don’t know when the government will reopen and what effect that will have on the economy. So, futures are down, tech stocks and others are down, and consumer confidence is shaken.
That’s because it’s about more than just 800,000 workers who are out of work or working without pay. It is also about the businesses they support, the stores they go to, restaurants where they eat, and bars where they drink. The ripple effect is huge, and it is starting to be felt everywhere.
Loans, Grants, and More
Waiting on an SBA loan to buy a business? Keep waiting. A VA loan to buy a house? You aren’t getting approval anytime soon. Your dream house will likely be snatched up by someone else in the meantime. Government grants for the arts and other non-profits? Not happening right now and have not been for over a month.
Hey, even though it is not your fault it is still impacting you, and the business owner trying to sell, the seller of the house, the museum or organization waiting on funding to start a project. And although the Secretary of Commerce might say differently, it is not as simple as going out and getting another loan, at least for most of those affected.
You can still file your taxes, but you won’t get a refund, at least not until the government reopens, and the IRS may be shorthanded in the meantime, so returns may take longer to process.
Not surprisingly, this affects a number of businesses where people tend to make major purchases after they get their tax refund. If the shutdown continues, they will be waiting for their refund rush this year.
What does all this mean? The digital marketing business is slow too—as people wait to see how long the shutdown drags on and how it affects everyone involved. Businesses are tightening their belts and not spending anything they don’t have to.
How is your business doing? How is the shutdown impacting you