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Small-Business Owners Waiting for the Presidential Election


The upcoming presidential election is causing many small-business owners to remain hesitant and cautious in fears that new regulations and policies could affect the way they do things at their company.

According to recent research conducted by provider of human resources and business performance solutions Insperity, most of the company's base of over 5,700 small and medium-sized workforce optimization clients are maintaining current staff levels, while only about 30 percent are adding new staff and positions.

CEO and chairman of Insperity, Paul Savardi, noted that except for plans to increase overall pay over the next several months, SMB owners are holding off on making other decisions until after the results of the upcoming election.

Many Concerns Stand in the Way of Future Growth

The economy, healthcare costs and the federal deficit are just a few of the worries of small-business owners. The survey found 72 percent are concerned about the economy, half are troubled by rising healthcare costs and 69 percent are worried long-term about the federal debt and growing national debt.

Savardi also reported that some of the most evident concerns based on the survey’s open-ended questions included worries about the imminent fiscal cliff dilemma and its far-reaching economic implications.

Small-Business Owners Hopeful for the Economy Post-Election

The volatile economy is a point of contention for many small-business owners who are hopeful the next president can be a spark plug for the economy. Another recent survey, this one from the Small Business Authority, found 70 percent of business owners expect that, after the election, the economy will be better than it was in 2012.

CEO, chairman and president of the Small Business Authority, Barry Sloan, stated that based on recent trends including higher employment, improvements within the housing market and the stock market’s decent performance, SMB owners are hopeful that the economy will continue to improve. Clearly, everyone is looking forward to the coming and going of this year’s presidential election.

After the election, many business owners may want to kick up things at their company and begin growth efforts. With the proper small-business insurance policies in place, owners will be able to attempt expansion efforts without fear that their company will be compromised by a bad investment.

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