The presidential election campaign has small business owners worried. Both candidates have indicated plans for helping small businesses, yet owners are concerned that the reality might be just the opposite, USA Today reports.
According to a new study by The Hartford, 77% of small businesses see a tax hike in their future, with 67% of them pointing to that potential as why they won’t be hiring in 2013. Only 33% view the economy in a positive light, a steep drop from the 61% just six months ago.
Both President Obama and Republican candidate Mitt Romney say the other guy will make it difficult for small businesses to operate. Garrett Sutton, author of Run Your Own Corporation, comments, “That has an effect with business owners. They’re sitting on their hands waiting to see what’s going to happen.”
A PNC Bank study from two weeks ago had similar results, with 23% of small businesses having a rosy view of the economy, a drop from the 28% six months ago. “They’re a bit less optimistic, a little more cautious than they were back in the spring,” said Stuart Hoffman, chief economist for the bank. (NACS: www.nacsonline.com)