If you read here, you know I loath to get political, so I’ll refrain from any straight politics and policies. But I have to say that the small business community continues to be enthused at the general direction of the economy. Equipment financing is the lending business, and the lending business is generally a good barometer of how small businesses feel about “things”. And right now, they feel good.
I’m continually amazed at the speed of technology. In my lifetime, I have seen clunky computers with DOS give way to smartphones that do more and more, seemingly every month. Think about this – in your hand, you have not just a wonderful communications device, but you also have almost all of human knowledge at your fingertips. It’s astounding when you step back and look at the big picture. Right now, on a day to day basis, you have access to more information than the President himself had 25 years ago. That’s pretty cool.
Another thing on the technology front: my friend has some vintage audio equipment. He had a preamp that wasn’t working with its remote – specifically, the volume knob wouldn’t work with the remote. There’s a plastic gear that had a tooth broken. The manufacturer is long out of business, and this part, probably worth no more than a nickel, was impossible to get. The solution? Have one 3D printed. I mean, wow – his mind was blown. And now his preamp works!
Of course, the preceding has little to do with equipment financing, unless you are looking to finance a 3d printer for your company, of course. And I see more and more companies doing exactly this, because it becomes a piece of equipment that can make almost *anything*, even obscure little parts that help old machines stay running (and now I think I need a “why financing 3D printers matters” post!)
2017 is shaping up to be an excellent year for a majority of businesses and industries. I’m hoping the trend continues for the next six months, and into the next year. It’s a great time to be in business!