Presidential Election Vexing Small Business Owners

Presidential Election Vexing Small Business Owners

According to U.S News & World Report, The contentious 2016 presidential race is generating anxiety among small business owners and could create problems for job creation and domestic hiring in the near future, according to a series of business sentiment trackers released this week.

Bank of America’s Small Business Owner Report on Tuesday showed more than two-thirds of roughly 1,000 business owners surveyed were at least “somewhat” concerned about how this year’s presidential election would impact their respective businesses.

Strictly from a professional standpoint, about 68 percent of those surveyed said taxes were among their primary concerns, while 67 percent cited anxiety over the broader economy and job growth. About 55 percent said they were worried about how the election would impact health care policy.

“Anxiety is high regarding the impact of the fall elections, the effectiveness of U.S. government leaders and health care costs, possibly explaining why small businesses are taking a wait-and-see approach before making plans for hiring and growth,” Robb Hilson, small business executive at Bank of America, said in a statement accompanying the report. “Nearly 4 out of 5 (79 percent) small business owners express concern over the effectiveness of U.S. 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.”

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U.S News and World Market- Presidential Election Vexing Small Business Owners

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