All Fields Required

Politics and Taxes Frighten Small Business Owners

Posted On
10/25/2016
By
Stefan Schumacher

The presidential election seems to have a lot of people on edge, and small business owners are no exception. 

This Halloween, they're saying it's the scariest thing they're facing as business owners, even edging out a tax increase, according to the October 2016 Small Business Scorecard survey.  

Government regulations also ranked high on the list with nearly 20% of the vote. 

Surprisingly low, perhaps, was a recession and even competitors. Only 7% said their competitors scare them the most, and 9% said a recession.

Even lower was a stock market crash, with just 4% saying that possibilities is the scariest thing they could face. And only 1% were worried about finding someone to take over the business after retirement. 

Small business owners are reasonably worried about employees leaving. It makes sense given that many small businesses have only a few employees, that 16% of business owners said that scares them most.

Optimism Falls 

Maybe it's the Halloween, maybe it's the election, but optimism about the economy also sunk to its lowest level in the last year, according to the survey. Only 63% of this normally positive group are optimistic about the economy. The optimism level had been steadily in the 70s through the last 12 months. 

Check out our Halloween edition of the Scorecard infographic for an overview: 

surepayroll-scorecard_oct-2016