Even Now, Reasons for Hope

This article is sponsored by Insperity

This story originally appeared in the September/October 2020 print edition of Middle Market Growth magazine. Read the full issue in the archive.

The world is in the grips of an invasive viral pandemic and an economic crisis the likes of which we have not seen for nearly a century. It is impacting our daily lives and threatens our long-term prosperity. All the turmoil makes you want to take your ball and go home (which, apparently, is exactly what we are supposed to do). So, where is the glimmer of hope? Are there opportunities hidden in the current adversity? I say yes—for the innovative.

Think back to the financial crisis of 2008. The subprime mortgage market collapsed, sending a financial shockwave across America and throughout the world. The Dow Jones index fell from 14,500 to 6,600. Banks collapsed, and peoples’ fortunes were shattered. The situation was dire. Billions of subsidy and loan dollars were used to prop up everything from banks to automobile manufacturers.

Fast forward 12 years. Following a healthy recovery that elevated the nation and many individuals to new financial heights, we again face financial strains—this time brought on by a global virus outbreak. Hoping to starve the virus, we have withdrawn from our normal lifestyles to shelter in place. Our retreat has shuttered many businesses and constrained others, threatening our vital small business economy and paralyzing even the titans of global industry.

So where is the reason for optimism? We must look to our national heritage of resilience to find hope.

Read the full article >>>