Small Business Owners Cautiously Optimistic About Trump’s Deregulation Plans

More than two-thirds of small business owners expect to see business growth, expansion or increased revenue in the next year, according to a Business.com survey of more than 800 small business owners.

Respondents cited President Donald Trump’s promise of fewer regulations and lower taxes for their hopeful outlook, but their optimism is tempered by political uncertainty. While 63 percent said that deregulation would help them to grow their businesses, only 34 percent said they expect the Trump administration to make a “great impact.”

Last week, Trump unveiled the blueprint for his proposed tax reform, which would significantly lower taxes for many small businesses. The proposal has yet to make its way to Congress, and while many small business owners have expressed optimism about the proposed reform, economists and critics from both sides of the aisle are calling for more details about how the plan will be funded.

While the majority of small business owners are encouraged about their investment plans, 55 percent said current government regulations are hindering their business, and more than half said regulations are negatively impacting their ability to hire employees. Nearly half of the survey respondents said health care policy is among the most restraining regulations they face, followed by governmental licenses, applications and reviews.

“Given the central role of small businesses nationwide, growth in that sector can have ripple effects throughout the economy. But a lot of the current optimism rests on Washington, so it’s not surprising that political uncertainty looms so large in their threat assessments,” said Doug Llewellyn, President and COO of Purch, which recently relaunched Business.com.

It takes a little cash to change the world.

So what are you waiting for?

About the author

Melanie King
A storyteller since first grade, Melanie King has shaped a career around writing engaging narratives—though her illustrations haven’t improved much since age 6. As a reporter and editor, Melanie has written about everything from retail and tourism trends to economic development for regional newspapers, trade publications, and national magazines. As Lendio’s Director of Public Relations, she specializes in reporting fintech industry news and its impact on American small businesses. Melanie has a B.A. in Journalism from Brigham Young University. She is also a backpacker, runner, and mom of four.


This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get more small business tips from Lendio.

More like this

Get your small business loan today.

There's no fee and it won't impact your credit.
Already have an account?  
Sign in