Published in ELFA Online
There were many industry trend predictions for 2024, and a recent review left me reflecting not only on the last year, but also on the trends throughout my career that started in 1981, when prime was at an astonishing 20% (and yes, we were still doing business).
While we all wish business was as simple as making predictions for the upcoming year and adhering to those philosophies, it’s not. Our economic markets tend to move directionally over longer periods of time. COVID has also sent massive shocks throughout the system, perhaps forever changing the economy in ways that have not yet been identified.
In regard to what to expect for 2025, I can only share what Summit is seeing currently, and thoughts I have based on what I’ve seen for over 40 years in the equipment finance industry, noting there are always unknowns in an election year. Changes in technology, government spending, regulations, fluctuations in tax rates and geopolitical issues will vastly be important.
