On this episode of Paychex THRIVE, Gene Marks talks with CNN Reporter, Matt Egan about the economic outlook of 2023 and the possible impact on businesses. Listen in as Matt talks about consumer spending, a possible recession, interest rates, inflation, and more.

Listen here.

Topics

00:49 — Introduction to Matt Egan

01:49 — What to expect for the holiday season

02:44 — Consumer spending in today’s economy

04:35 — Buy now, pay later trend

08:00 — Are we headed into a recession

11:32 — The challenges within the tech sector

14:16 — State of the housing and construction industry

17:08 — The rise in interest rates

19:03 — Thoughts on inflation in 2023

23:38 — Expected news on small businesses in 2023

26:22 — A positive outlook for next year

28:00 — Wrap up

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This week, I share my concern with Loren Feldman that not enough business owners are thinking about the future and preparing for succession. Which leads to an obvious question: Do I have a succession plan? Hmmm. Plus: I have some suggestions for how businesses can better manage their relationships with vendors and suppliers. And what lessons should we take from the rampant fraud being revealed in the PPP program? Listen here.

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Gene Marks

Columnist on smallbiz, economy, public policy, tech for The Guardian, The Hill, Philly Inquirer, Wash Times, Forbes, Entrepreneur. Small Business owner and CPA