According to the 2016 State of Small Business Report, released Tuesday by Wasp Barcode Technologies, half of the businesses surveyed express the view that the government “does not do enough to support small businesses, and only 24 percent of them were favorable about government backing.”
However, notwithstanding the “overall federal pessimism,” the nation’s small businesses are more optimistic about the November presidential election.
39 percent of them believe a Republican win would have a positive impact on their business’ growth, while 34 percent said the same about a Democratic win.
Thirty percent believe a Democratic win would have a negative impact, while only 22 percent said the same about a Republican win.
With regard to hope for growth, survey results show that hope is “tempered” by business challenges.
“While most small businesses (71 percent) anticipate revenue growth, the bulk of them (32 percent) expect that growth to be modest at 1 to 4 percent,” the report summary shared with MMW reads. “Their optimism is tempered by major challenges for 2016; the top three being hiring (50 percent), profit (45 percent) and employee healthcare (43 percent). For small businesses with more than 100 employees, hiring and employee healthcare costs tied as their number one challenge.”
Want to know more? Check out the complete results here.