As a growth engine of the American economy, many are wondering how small businesses are being affected by the uncertainty of an election year. It appears the vast majority of them are split on whether one candidate or another will make a difference, according to the March 2016 SurePayroll Small Business Scorecard®.
• 44% say the election makes no difference, it’s business as usual.
• Another 44% say it all depends on the candidate.
• 12% say regardless of who gets elected, uncertainty is bad for business.
Uncertainty around the election doesn’t appear to be slowing down small businesses yet this year. For the first quarter of 2016, 90% of small business owners are reporting that business is either steady or better than last year. Only 10% said business is worse than a year ago.
“Our small business customers are having a lot of success while being cautious at the same time,” said SurePayroll General Manager Andy Roe. “As a payroll company, it’s our job to be ready for any tax changes or other regulations that come with new leadership. The most important thing is that we can help small business owners better manage their payroll, regardless of who is in office.”
One small business owner commented: “I believe that we do what we have to do to make things operate the way they should, regardless of the political position of the country. Business must go on and life continues. Positivity and planning are key!”
Another expressed more concern: “This is an unprecedented time in American politics. Most people I speak with are reluctant to commit going forward with large projects or remodels. They are protecting their cash, which is understandable.”
An infographic with the full results of the Scorecard survey is available on the SurePayroll blog.