It’s only been a little over a month since Donald Trump was sworn in as President and a new survey by BizBuySell, one of the largest online business-for-sale marketplaces, reveals that almost half of the small business community approves the Trump presidency.
Almost Half of Small Business Owners Approve of Trump
According to the BizBuySell survey, which polled more than 650 small business owners and prospective buyers to determine the approval of Trump’s presidency since he took office in January, 47 percent of business owners said they approve how the president is handling his job as president thus far. However, 30 percent of the business owners said they disapprove, while 23 percent had no opinion.
The top three issues small business owners said they would like President Trump to address were tax reform (44 percent), Healthcare (43 percent) and jobs (30 percent). In calling for tax reforms, 78 percent of small business owners said there are currently too many regulations on small businesses. Other reports actually indicate that business leaders were thrilled with the President’s recent signing of an Executive Order directing that for every small-business regulation promulgated, two shall be identified for elimination.
Small Business Owners Favor Obamacare Repeal
When it comes to healthcare, 60 percent of business owners said they are in favor of repealing the Affordable Care Act (ACA), popularly known as Obamacare, which they feel places undue “economic burden” on them. However, on this issue of repealing Obamacare, it is emerging that small businesses may have to wait a little while longer as the technicalities of repealing the ACA are smoothed out.
On jobs, a whopping 67 percent of small business owners said they are in favor of the President renegotiating trade deals (i.e. NAFTA), but surprisingly 48 percent also said they are in favor of a federal minimum wage increase despite business leaders in general opposing the idea. Additionally, 49 percent of business owners said they approval dismantling of the contentious Dodd-Frank Act that places regulation of the financial industry in the hands of the government, claiming it limits lending.
Small Business Buyers Favor Minimum Wage Raise
On the other hand, 41 percent of perspective small business buyers said they approve President Trump, and 60 percent of them added they approve repealing Obamacare. However, the small business buyers differed with business owners in that the majority said they want the President to prioritize healthcare above tax reform. And surprisingly 58 percent of the buyers are also in favor of raising the federal minimum wage.
Donald Trump Photo via Shutterstock
Thanks for this post, David. Please don’t take what I’m about to say as being political.
Trump has been in office for like 40 days. How can small business owners be happy or unhappy yet? How have their small businesses changed? Mine sure hasn’t in 40 days. Just sayin…
The Franchise King®
Fair enough, Joel. That being said, we didn’t take the poll, a major website representing small business owners and potential buyers did. And the fact that so many groups in the small business community feel the need to continuously take the pulse of small business owners at this particular moment in history probably speaks volumes.