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Sean Manning, CPA, CFE | Partner and CEO | Payroll Vault Brands
Election 2020:
A Small Business Primer for the Presidential Race (and More)
Small businesses have rolled with the punches in 2020 and want to know which candidate is best to have in their corner. To say that the current business climate is experiencing uncertainty and chaos would be an understatement. That’s why 90 percent of small-business owners are paying very close attention to the 2020 presidential campaign.
Sean Manning
Franchising USA
This year has been a wild ride, and the only certain factor is change. The platforms of Donald Trump and Joe Biden could both see further tweaking between now and November; if 2020 throws more curveballs at life and business in the United States.
But at the moment, here are a few thoughts for small business owners to chew on as they get ready for the election.
Possible Effects of a Biden Win Political magazine and website, The Hill, forecasts six ways a Biden presidency
would impact small businesses. These
include health care costs remaining stable, more possible tax obligations for small
businesses, continued rise in employment
costs, potential benefit for small businesses from more spending on defense and
infrastructure, and a general love for entrepreneurs.
The predictions note that health care costs have risen nationally under Trump by six
percent to eight 8 percent. Biden supports
a modified version of the Affordable Care
