The results of a survey commissioned by small business loan marketplace Lendio suggest small business owners are split in their opinion as to how a Donald Trump presidency will affect the American economy. The survey questioned more than 330 owners of businesses employing less than 250 employees.
Only 27 per cent of those owners approve of Mr. Trump’s performance so far. That could inch upward once the recent executive order to cut two existing regulations for every new one implemented takes effect. More (41 per cent) believe it will help than hinder (28).
Lendio founder and CEO Brock Blake said the results suggest some interesting things.
“What we found was that despite varying personal perspectives on his performance, not all small business owners have to agree with Trump’s policies to still have a positive outlook on how the new president will impact them.”
The majority of small business owners are hopeful about the state of their own operation – 40 per cent believe the Trump presidency will have a positive impact on their business while 33 percent believe that impact will be negative.
Other key findings include:
Ease of access to capital
- 37 per cent overall believe capital will be easier to access.
- 74 per cent of those who voted for Mr. Trump believe capital will be easier access.
- 10 per cent of those who did not vote for Mr. Trump believe capital will be easier to access.
Hiring plans
- 62 per cent overall plan on hiring within the next six months.
- 53 per cent who did not vote for Mr. Trump plan to hire.
- 71 per cent who did vote for Mr. Trump plan on hiring.
Additional plans
- 67 per cent overall plan to expand their business.
- 72 per cent of Trump supporters plan on expanding.
- 63 per cent of those who did not support Mr. Trump plan to expand.
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