WK 7 How Will Trump Affect Small Businesses

How Will Trump Affect Small Businesses

There is already a fear arising amongst small business owners that stems from the President elect and how he may affect their businesses. There was a survey conducted in which 68% said that taxes were one of their primary concerns.  The second most concerning topic was that of healthcare. Most of these small businesses waited till after the election to decide on hiring more staff. It is my understanding that the majority of small business owners are concerned by the government leaders.

Those results aren't far off from a separate survey and barometer released Monday by Capital One, which showed that 1 in 4 small business owners were more worried about the elections than about "competition, hiring and retaining talent and the regulatory environment.

The owners have anticipated challenges tied to the Presidency and believe this will have a significant impact in their growth.

Statistics from the Census Bureau also showed that small businesses accounted for more than 96 percent of all companies in the U.S. and employed more than 44 percent of all working Americans in 2013.

Regardless of these findings, many surveyed have indicated that conditions were far from excellent.

The number of businesses reporting "poor" conditions ticked up 4 percentage points to 19 percent.

Each day small businesses are concentrated on their growth and they do not want to add stress from the unknown. They find it will be in the best interest of their business to wait and see some of the results.