Business Insights

Staying successful in the current home improvement economy

Regions Home Improvement Financing is here to help your contracting business grow and sustain itself through the ups and downs of the economy.

Changes are happening all the time, and having a good grasp of how to adapt to these economic shifts can be critical to making sure your business thrives.

We recently spoke with Alan McKnight, Executive Vice President and Chief Investment Officer at Regions Asset Management, to get a feel for what’s happening and what we can expect going forward. Alan is a professional economist who understands emerging trends and potential challenges, and can provide actionable solutions tailored to help your business be its very best.

He gave us some insight into what businesses are thinking in the current environment:

“Businesses we talk to tell us they would love to be able to put more facilities back in the U.S., but it's going to take time, and it's going to cost more. ... To a certain extent, the U.S. consumer is going to have to get used to paying higher prices. It's not going to be cheaper to produce the vast majority of goods in the U.S., but that doesn't mean that it's not the right thing to do. ... So, we think consumers will be paying more for longer, but thankfully, well below where we were. Inflation is manageable at the current levels, although we'd like to see it a little bit lower.”

What does that mean for pricing?

“As a business, you're going to have to make a fundamental decision. Am I going to pass on these cost increases by virtue of the change in trade and with tariffs or am I going to have to eat some of it? And we think the vast majority of companies are going to have some sort of hybrid. They will eat some of their profits to see those corporate profits coming down, while at the same time they'll pass some of that along to the U.S. consumer. ... So we think profits will come down, but companies aren't going to bear all of the brunt of that. They'll bear some of that with the customer, and the customer won't receive all of the impact of it, but they will receive some.”

And there’s so much more. The full recording of this impactful webinar is now available for you to enjoy on-demand, so you can begin driving your business forward with confidence!

Click here to gain access immediately!

We also have a number of additional free resources to help your business grow.

And if you want to learn more about how Regions Home Improvement Financing can help you succeed, visit this page.