Election Jitters Affecting Small Business Owners
The unknown is one of our biggest fears. After November the 8th many of the unknown's involving our nation's political landscape will become clearer. Until then the waiting and worrying about who might win what job has a lot of small business owners concerned.
The National Federation of Independent Business has just released statistics from a study that shows uncertainty among small business owners is now at an all-time high. The Uncertainty Index has risen from 86 to 88 for the month of October. This is an even higher number than the previous record month of August.
Small business owners are just telling us that between the election and all the changes that are constantly being thrown around right now, they can’t plan for growth or compliance with tax codes, compliance with labor costs.
Those are the cautionary words of Dawn Starns. Starns is the Louisiana Director for the NFIB and she spoke with the Louisiana Radio Network. Not knowing who might be in office or what policies those individuals might embrace has many business owners simply waiting, watching, and wondering. There is no use to do too much planning since all of those plans could be scrapped after the election.
Small business owners tell us they don’t feel like small business has even been an issue in the presidential campaign the way they’d like to see it, and the fact is that small business owners are the job creators of the state and this nation.
You have to admit that's a fact. The focus of both major party presidential candidates certainly seems to have been more focused on personal attacks than they have been on actually running the country.
This concern has lead to a very cautious approach by business owners. Many have expressed trepidation about expansion or growth until election day has come and gone and we all see what direction the country will really be headed in.