What are small business owners most concerned about? A new survey has some answers.
Small businesses have a lot at stake in this election.
And a familiar host of challenges are weighing on owners’ minds: Healthcare, government regulation and complexity, and tax reform are all top issues, according to a recent Paychex survey.
If those challenges sound familiar, that might be because NFIB’s Small Business Problems & Priorities report also identified the same three issues as the top challenges facing small business in 2016.
Paychex surveyed more than 300 principals of U.S. companies with fewer than 500 employees.
Some highlights of the survey:
- On healthcare: 38 percent of respondents want the ACA repealed, while 27 percent want to expand it.
- On government regulation and complexity: 55 percent said these issues were hurting their business.
- On taxes: When asked which change to the U.S. tax structure would benefit their business the most, 53 percent said that closing tax loopholes that benefit the wealthy would be the most beneficial. At 47 percent, the second most popular response was reducing the number of tax brackets and lowering the highest tax rate for individuals and businesses.
As far as the candidates go, 50 percent said Donald Trump best represents the interests of small businesses, while 23 percent said Hillary Clinton (16 percent were undecided). However, 39 percent of respondents believe Clinton will win the election, compared to 32 percent for Trump.
*Note: This news coverage does not equate to an endorsement of any candidate by NFIB.
Photo credit: Barbara Kinney for Hillary for America