Wondering if small business will get some relief with the new administration. What are your thoughts?
Wondering if small business will get some relief with the new administration. What are your thoughts?
They already are. I'm friends with the son of a small business owner, and he and his dad have been massively overworked this last year (60+ hours a week each) as they struggle with a mediocre economy, a bigger competitor moving in down the street, minimum wage increases, and an employee getting them fined. You could see the weight lifting off their shoulders when Trump won, and they have a positive attitude about the future for the first time in months. And with that improved attitude has been a fresh vigor for keeping their business afloat. They're not out of the woods yet, but things are improving.
I think it's far too soon to tell. With tax cuts you always see relief early, but it won't necessarily sustain. It depends what happens with buyer confidence and if the extra money is indeed going to the workers.