Small Business Owners – What They Told Us About the Election
Why the mandate? Small business owners were telling us all year why they were motivated in this election. Here’s what they say they’re going to do now.
"With a Trump Win, 83% are more willing to expand and invest in their business and 81% will be looking to hire more employees."
Moscow, Idaho (Newsworthy.ai) Wednesday Nov 6, 2024 @ 11:20 AM Pacific —
America's small business community told the Freedom Economy Index survey what they were experiencing in the economy, and what they expect of a second Trump presidency.
Key Takeaways
- Small Business Ready to Invest & Expand: With a Trump Win, 83% are more willing to expand and invest in their business and 81% will be looking to hire more employees. Less than 2% said they would expand, and less than 1% said they would hire new employees, if Harris presidency.
- High Inflation Expectations Dissipate: Even though 87% said in October that high inflation continues to be a problem, less than 1% said they'd need to "prepare for greater inflation" if Trump wins.
- Economic Pessimism Trended Into Election Day: Heading into the election, over half (52%) were "pessimistic" or "worried" about the future of their business and 63% of business owners said their opinion of the US economy had become somewhat or much more negative in the month prior to the election.
"The Freedom Economy Index has been spot on in describing the pain small business owners have endured over these past four years, and I expect these same business owners will follow through on their intentions to invest in their business growth under a Trump presidency," said PublicSquare CEO Michael Seifert.
"It's been less than 24 hours after the polls closed, and we're already feeling a new energy among our customers," added RedBalloon CEO Andrew Crapuchettes.
Newsworthy Reactions: