Identifying Opportunities in Economic & Regulatory Trends (6A)

Gainesville’s ban on all plastic waste products

This idea has been on the radar for more than a year. Gainesville officials first brought up the idea of banning single-use plastic bags and Styrofoam containers over a year ago, and now, we are finally starting to see a change. Gainesville’s plan is to become a “zero-waste city” by 2040. This would call for an increase in recycling, composting and reduction of greenhouse gases. There are many alternatives to using plastic products. For example, many people use metal straws rather than plastic. Another example is when you go to the grocery store, instead of using a plastic bag from the store, bring your own reusable bags to use each time. I think this opportunity is relatively easy to exploit because people are already starting to change. I’ve always recycled plastic bottles and cardboard in my house, and now I’m making more efforts to start being better about my choices with recycling and reducing the plastic that I use. I have also recently seen many people repost the same articles about the Gainesville ban on Facebook. From reposting these credible sources, this will be able to spread awareness and help people continue to recycle and reduce their plastic use. The opportunity for durable bags and metal straws will increase.

Minimum Wage Increase

In 2019, workers in 19 states across the country got a minimum wage increase on January 1^st. That’s due to a variety of factors, including legislative efforts, ballot measures, and adjustments tied to inflation. This means $5.3 billion in increased wages over the course of 2019.  This is great news for the residents in these states. This is a great opportunity for those that already have low income to earn more. I have recently read many articles this year about the minimum wage being increased. I think this opportunity is relatively easy to exploit because so many people will know about it. When I was a freshman in college, I worked two jobs. One as a hostess at a restaurant and another at a law firm. I was fortunate enough to be paid way more than the minimum wage, so this is something that has never affected me.

Unemployment

Tax cuts were passed to reduce taxes and reduce corporate taxes, this means they had more money to hire more people. The unemployment rate ends the year at 3.7 percent in 2018. Most job grown is in low-paying retail and food service industries. Structural unemployment has increased. Because of unemployment existing, this could also create more jobs for people. Unemployment has always been an issue in the United States and after reading about our current situation, I believe we need to create more opportunities for jobs and this will help the unemployment rates.

Tariffs and trade policies

A hot topic in the news today is international trade policy. After the Trump administration announced a spate of tariffs on trading partners, including close U.S. allies such as Canada and European Union member states, a series of retaliatory measures targeting U.S. exports were announced in kind. This is a regulatory change that is affecting businesses. Tariffs impact businesses in industries that weren’t directly targeted, and they can have a huge effect on economies throughout the world. This is an opportunity that can affect business owners as well as any companies. I think this can be relatively difficult to exploit.