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SOUTHERN OREGON BUSINESS CONFERENCE Businesses learn survival tips during 13th annual Southern Oregon Business Conference Speakers give tips for businesses to thrive during 13th annual conference Comment By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 28, 2016 at 5:50 PM By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 28, 2016 at 5:50 PM » Social News Risk is part of doing business, and avoiding it can only make things worse. "We want to do business with risk," keynote speaker Jim Sorensen told his audience Thursday at the 13th annual Southern Oregon Business Conference at the Inn at The Commons in Medford. "There is risk inherent in it, and for the companies that don't do it, do not prosper, and the people who do tend to." To launch, relocate or prosper in business, calculated risks are required, he said. The Nebraska native, Vietnam veteran and longtime corporate consultant and trainer who now lives in Snohomish, Wash., has seen mind-sets change as the baby boomer generation gave way to generation X and millennials. "What creates loyalty in a baby boomer is external security," Sorensen said prior to taking the podium. "But it's very different for these younger generations, they don't believe in external security. What they believe in is internal security, the strength of their resume, their experiences, their tool kits. "The average generation X, if they don't feel like they're growing in your organization, not getting new skill sets, they have what's called a two-year pattern. They'll stay long enough to get your name on their resume, get some new skill sets, and start to shop their skill set outside your organization and you will lose your best and brightest first. These young millennials, even a shorter period than that, they want to be developed and want to connect to their organization." University of Oregon economist Tim Duy spoke on trends businesses can expect in the coming year. He said it is unlikely the Federal Reserve will advance interest rates four times by the end of 2016. "To get interest rates really up higher, you'd really need to see some very rapid growth in the U.S. economy in order to justify that kind of increase," Duy said. "The other factor that's holding back U.S. interest rates is global interest rates are low. There is just too much capital out sloshing around the world looking for a home. There is only so far the U.S. can go to pull away from the rest of the pack." On lower fuel pump prices, Duy said the positive impact will come after consumers get used to consistently lower prices. He noted truck and SUV sales are up, but there were less obvious factors as well. "The U.S. economy is just less energy intensive than it used to be," he said. "Either an increase or decrease in the price of oil might not have the same impact." As for impact of a proposed net receipt tax on business, Duy said it's wiser to spread the tax burden across the board. "I prefer my taxes to be broadbased, but with lower rates," he said. "When you try to pile the taxes on just one sector, that's when you might get distortionary impacts." Duy said he's waiting to see studies from the Legislative Revenue Office to determine possible impacts. "You can imagine some firms are going to say, 'This isn't working for us' and are going to try to relocate some of their activity. Other firms will find ways to pass it on to their customers," he said. "We don't always know what the ultimate impact these tax increases are going to be, because every firm is going to have a different incidence. My guess is that the consequences are not going to be as bad as people think, but they're not going to be as good as people think, either." Duy said the same is true for the minimum-wage proposals, agreeing with a differential between Portland the rest of the state. "There is not a lot of evidence that there's a huge impact with minimum wage either way on job growth," he said. "It certainly has created a huge amount of debate within an economics department." Firms react in many ways to a minimum-wage increase, he said. Some let employees go, some replace labor with capital, some find more productive uses of their workers, and some pass increased costs to their customers. Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at https://www.facebook.com/greg.stiles.31 . By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jan. 28, 2016 at 5:50 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... 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