Newport Beach Chamber of Commerce Economic Forecast helps business owners prepare for success

Local business owners can gain insight that might help them get ahead of changes in interest rates, the job market and other emerging financial trends at the Newport Beach Chamber of Commerce’s 2025 Economic Forecast on Thursday.

The event will take place at the Balboa Bay Resort and features an in-depth presentation from Christopher Schwarz, faculty director at UCI’s Todd & Lisa Halbrook Center for Investment and Wealth Management. His analysis aims to help business owners know what to expect and what they may need to prepare for in order to succeed in 2025.

“He has a good way of breaking it down so that anyone can understand,” Chamber chief executive Steve Rosansky said.

Schwarz uses movies, television and other pop culture references to explain complicated predictions about Orange County’s financial future in a way that’s approachable and easy to apply to real life situations, Rosansky said. The presentation takes place just a few days after the start of the fiscal year for most companies, a time when many are drafting their budgets for 2025 and making decisions impacting their businesses and their employees.

The presentation comes amid mixed signals and modest glimmers of optimism for business owners still navigating a path forward from of the turmoil wrought by the COVID-19 pandemic, Rosansky said. Figures have shown that the U.S. labor market has been healing over the past four years, but that recovery has slowed in recent months.

Meanwhile, America’s GDP rose to a healthy 2.8% over the summer, indicating that the U.S. economy is picking up speed.

Inflation appears to be in check while the labor market is showing signs of slowing down. In response, the Federal Reserve announced the first drop in the benchmark interest rate in four years, shifting its strategy toward encouraging job growth.

What all of that means for both small and large business owners hoping to thrive in 2025 will be among the topics covered at Thursday’s event. The Chamber expects about 300 people to attend.

“This Economic Forecast is at the core of our mission here at the Chamber to educate and support local business owners,” Rosansky said.

The event begins at 11 a.m. and is scheduled to run until 1:30. Admission is $110 per individual or $1250 for a table, and includes lunch and valet parking.