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The Economy and Economics
Manage episode 362063381 series 3311775
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week they are talking about the economy and economics, a certainly prevalent topic in 2023. Howard Yaruss and Barry Sloane accompany Andy and Jessica in today’s episode. Howard is a professor at NYU, author of Understandable Economics: Because Understanding Our Economy Is Easier Than You Think and More Important Than You Know (among others), and is addressing the economy while sharing his expertise in business brokerage and M&A business as well. Barry Sloane, President and CEO of Newtek Business Services Corp., talks about the economy and the newest expansion of Newtek.
Key takeaways:
[3:47] Howard Yaruss discusses understandable economics for buying and selling businesses.
[5:12] Howard explains where to start approaching economics.
[6:48] What is happening to the economy and interest rates?
[8:15] What is the goal of raising interest rates?
[10:30] How much could goods and services increase?
[11:37] Howard explains the influence of the relationship with China.
[13:58] Economics is more art than science.
[15:30] If you are a business owner, what are the critical economic principles you need to run or sell your business?
[20:01] Howard foresees the near future for small business owners.
[24:41] The lack of understanding of economics causes a lot of frustration and it enables politicians to exploit that ignorance.
[27:09] The internet offers a playing field that differs radically from what used to be.
[28:10] Deal of the week: James Lascano (West Florida) closed a great deal in home health care. The seller was an immigrant who started with nothing and ended by selling a multimillion-dollar business. Buyers were ready, and the seller was greatly organized with super clean books. The business was sold for $5.6 million.
[37:48] Barry Sloan (Newtek).
[38:56] Barry explains what Newtek does and the recent purchase of a bank.
[41:48] What opportunities are lying within today’s economic environment?
[45:24] How has the economic reality translated to small businesses?
[49:00] Barry explains why Newtek covers it all.
[50:17] Barry shares what he thinks will be the economic atmosphere by the end of 2023.
[56:00] Deal of the week: Patrick Bombardiere (Colorado) sold a kitchen and bathroom remodeling business whose owner also invented a customizable shower base (both businesses run together). A good deal for good people!
Mentioned in this Episode:
Subscribe to The Deal Board Podcast YouTube Channel
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Email Howard Yaruss at howardyaruss@gmail.com
Email James Lascano at james.lascano@tworld.com (727) 217- 5559
Visit Newtekone
Contact Patrick Bombardiere at
Learn more about your ad choices. Visit megaphone.fm/adchoices
150 episodes
Manage episode 362063381 series 3311775
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week they are talking about the economy and economics, a certainly prevalent topic in 2023. Howard Yaruss and Barry Sloane accompany Andy and Jessica in today’s episode. Howard is a professor at NYU, author of Understandable Economics: Because Understanding Our Economy Is Easier Than You Think and More Important Than You Know (among others), and is addressing the economy while sharing his expertise in business brokerage and M&A business as well. Barry Sloane, President and CEO of Newtek Business Services Corp., talks about the economy and the newest expansion of Newtek.
Key takeaways:
[3:47] Howard Yaruss discusses understandable economics for buying and selling businesses.
[5:12] Howard explains where to start approaching economics.
[6:48] What is happening to the economy and interest rates?
[8:15] What is the goal of raising interest rates?
[10:30] How much could goods and services increase?
[11:37] Howard explains the influence of the relationship with China.
[13:58] Economics is more art than science.
[15:30] If you are a business owner, what are the critical economic principles you need to run or sell your business?
[20:01] Howard foresees the near future for small business owners.
[24:41] The lack of understanding of economics causes a lot of frustration and it enables politicians to exploit that ignorance.
[27:09] The internet offers a playing field that differs radically from what used to be.
[28:10] Deal of the week: James Lascano (West Florida) closed a great deal in home health care. The seller was an immigrant who started with nothing and ended by selling a multimillion-dollar business. Buyers were ready, and the seller was greatly organized with super clean books. The business was sold for $5.6 million.
[37:48] Barry Sloan (Newtek).
[38:56] Barry explains what Newtek does and the recent purchase of a bank.
[41:48] What opportunities are lying within today’s economic environment?
[45:24] How has the economic reality translated to small businesses?
[49:00] Barry explains why Newtek covers it all.
[50:17] Barry shares what he thinks will be the economic atmosphere by the end of 2023.
[56:00] Deal of the week: Patrick Bombardiere (Colorado) sold a kitchen and bathroom remodeling business whose owner also invented a customizable shower base (both businesses run together). A good deal for good people!
Mentioned in this Episode:
Subscribe to The Deal Board Podcast YouTube Channel
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Email Howard Yaruss at howardyaruss@gmail.com
Email James Lascano at james.lascano@tworld.com (727) 217- 5559
Visit Newtekone
Contact Patrick Bombardiere at
Learn more about your ad choices. Visit megaphone.fm/adchoices
150 episodes
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