Small business owners: Here’s how to prepare for election year

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Election years can be turbulent times. Here’s how to prepare for the next 10 months. Story from Square

The 2020 election year is officially in full swing. In the coming months, small business owners will be paying rapt attention to campaign trail promises. In particular, issues like tax reform, minimum wage and health care are likely to be top of mind.

As November inches closer, questions are arising about what a change in administration — or incumbent politicians’ evolving priorities — might mean for the small business landscape. Historically, this economic uncertainty tends to lead to consumersSmall companies can feel the impact of economic limbo sooner than their larger, corporate counterparts. But election years can also be prosperous, so long as small business owners take a few proactive steps.

There are several ways to prepare for whatever November may bring, and strengthen operations and efficiency in the process. Below are a few things to take into account when outlining a game plan for how to survive — and even thrive — during an election year.One of the most prominent concerns in the months leading up to a major political event revolves around business finances. Small businesses are especially invested in political talking points like the status of China-U.S.

For instance, higher supply chain costs due to tariffs may cause concerned small business owners to raise prices of products or services; tax hikes or cuts may impact profit margins. A total of 43% of small businesses to continue to increase their cost of doing business; already, 46% say they’ve lost customers as a result.

 

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Square How to prepare for next 10 months? Easy, don't listen to anything Democratic Party says. No one wants to hear lies.

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Square We have to be sure this goes right and is in order so the Republicans cannot claim that it was not accurate.

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BlissTabitha Square I got you, ... over the next 10 months, think about who you wanna vote for, and then cast it. If people need the news cycle to tell them how to survive an election year, we've got bigger issues than I had imagine. LiberalismIsAMentalDisorder

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Square Yeah. It’s employers who have to worry. Because opinions of workers can be touchy - but who cares if the election is even valid with thousands of vulnerable voting machines that are poised to subvert the will of the people anyway.

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Square Step 1 Don't listen to hearsay. Step 2 Research Step 3 Vote your conscience Step 4 Don't vote to fit in but do so because you can. Step 5 You don't have to vote Democrat because one man is against your lifestyle choices. Look at accomplishments.

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Square The only way we can prepare for the next ten months is if we have paper ballots & some kind of international organization to come in & monitor our elections.

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Square Well, just about every Trumper on here claims to be one or an 'entrepreneur'. Yet they never link to their business or even call it by name. Weird, that....

Square Small business owners: prepare for election yr by urging a vote for GOP candidates, not the Democrats who think all you are is a ‘rich’ person who ‘didn’t build’ your business.

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