Trump’s national emergency declaration has the support of 50% of small business owners over 50 years of age. The data is from the latest BizBuySell survey about small business owner sentiment.
Small Business Owner Sentiment Survey Results
According to the survey, business owner sentiment on this is issue is close to a statistical tie. An almost equal number of people say they agree (45%) or disagree (41%) on Trump’s declaration.
When you break down the data according to age, owners over 50 agree with it at a higher rate. More than a third or 37% of this group disagreed with the declaration. For those under 50, more people disagreed (48%) than those who agreed (37%).
The Issue of Immigration
Currently, a crisis is brewing in the southern border of the U.S. as more migrants make their way through Central America.
For small business owners, the issue of immigration is a thorny one because many industries rely on migrants. While everyone is well aware illegal immigration is not sustainable, the country needs a solution.
The BizBuySell survey asked owners if stricter immigration policies affect their small business? The majority (58%) said no, and an equal number of respondents at 21% said it would have a positive/negative impact.
The goal of the BizBuySell survey was to see how small business owners felt about a range of issues. The company surveyed more than 1,000 small business owners across the U.S to determine the outcome. They were asked about business risks, immigration reform, and even data security along with other topics.
Risks to Businesses
There are a host of issues small business owners face day in and day out. The survey asked what was the biggest external risk to your business in the next two years?
While immigration is getting the headlines right now, only 4% of businesses said it was a risk.
Topping the list was a possible economic recession at 38%. Talent shortage was next at 17%, large competitors at 12%, and government regulation with the same 12 percentage points. Taxes, healthcare costs, and cybersecurity came in at nine, six, and two percent respectively.
Although a small percentage of businesses said cybersecurity is a risk, it is a growing problem. Cyber attacks are costing small businesses $53,987 on average.
In the survey, 53% of the business owners are confident their business and customer data are properly protected against external threats. Over a quarter or 26% are not confident and 20% said they are unsure.
So how are owners currently storing their business and customer data? Forty-two percent of businesses use third-party cloud solutions and another 38% use manual records at a secure location.
Businesses also use a combination of online files, external hard drives, and third-party on-premises software.
When it comes to protecting your data having multiple solutions will ensure the safety of your data. The key is ensuring each method has robust security and a quick and reliable recovery system in place.