You will have noted, during the election cycle in the past two years, that the pundits (of all stripes) will create controversy in any way they can -- even when there isn't any. This is, unfortunately, the nature of and the result of advertising dollars going to the station with the most listeners. And listeners still like to examine both sides of an issue even when there is only one side that makes any sense. The real question is: what is the national election going to mean to the small business community?

What are the real truths?

With all of the stories promulgated by and against the candidates, it is difficult to tell the truths from the untruths. Even the "truth gurus" aren't of any help. They equate a horrible untruth on one side with a minor untruth on the other side -- and call it even. But the real problem is deciding what kind of impact the real truths are going to have on you.

There are some truths that need to be clarified and many untruths that need to be exposed. The dynamics of negativism have been created and negativism leads to fear; however, notwithstanding these anecdotal untruths, there is every reason to believe that "coming of age" in this new economy can be positive.

Words without meaning

Some good examples of "words without meaning" are some of the statements made about the changes in health insurance and new taxes assessed on small businesses. Nothing of the sort has been resolved in either case. Every small business, with a large-enough employee team, needs to factor into its employee compensation package some aspect of health insurance in order to be competitive.

It doesn't do a family much good if they have a strong salary, holiday package, etc., if their entire portfolio including house and savings can be put at risk by a serious illness in the household. It used to be that filing bankruptcy could give everyone a chance to start again without the hassle of being pursued for life by a medical disaster.

Now, under the new legislation passed by the Congress some years ago, even that alternative has become restrictive. And any concept of additional taxes on small businesses is nowhere to be seen at the moment -- and not likely to be.

Drinking the Kool-Aid

There are those pundits, as well as some professionals, who "drank the Kool-Aid," so to speak, and who believe some of the gross distortions put out by a candidate or a candidate's surrogate. It is time to filter them out and get a real picture of what will and will not affect your future as a small businessperson.

Be careful of allowing yourself to be driven or even directed by stories that have no basis in reality or advice about things not yet settled. Remember that dramatic changes in legislation are not created overnight. They are analyzed and discussed ad nauseum by those whose job it is to create such change.

And remember the legal concept that "the wheels of justice grind slowly." It is fair to say that "the wheels of the legislative process grind even more slowly." Unless and until Congress decides to change existing law or the courts decide on a different interpretation than the one under which we currently function, don't be misled by people -- even professionals -- who may have a slightly different agenda than yours.

The game of combinations

There is not one single thing that needs to be done for small business to survive and prosper. It is a combination of things including health insurance and tax advantages, tied together with good business sense, that will make the difference.

It will take a lot of good people, working together, to marry these concepts to maximum advantage and that will take time. In the meanwhile, stick to your guns. Yes, you do have to be more careful about expansion, receivables, inventory and the like but your highest priority should continue to be the customer, just as it has been in the past.

The products and services they needed before, they will need again. The entrepreneurs who understand this will be the survivors and represent the successes in the marketplace, as has always be the case. The future is positive and is right around the corner.

Happy holidays!

Ira Nottonson is a lawyer, lecturer, author, and consultant. His latest books are Forming a Partnership (2007) and Buying and Selling a Business (2008). He can be reached at 303-447-9672 or by e-mail at irabizlaw@aol.com.