What’s on small business owners’ policy wish list this year? Economic stability and health care reform ranked as their top concerns.
Donald Trump has officially become the president of the United States when he took the oath of office on Friday, Jan. 20. He achieved his win in November with support from a majority of small business owners. Now, those same businesspeople will be looking for him to follow through on his campaign promises.
According to a Manta poll, small business owners remain optimistic: 68% said they believe the Trump administration will positively impact their business. Almost 70% said they believe he will follow through on promises of deregulation and corporate tax reform.
But what about the specific issues closest to small business owners’ hearts? When asked which issue they would most like Trump to address when he takes office, economic stability (24%), healthcare costs (22%) and taxes (16%) were at the top of the list. When it comes to the Affordable Care Act specifically, more than 60% of small business owners said they would like to see it repealed.
Brad Chandler, CEO of Virginia-based home buying company Express Homebuyers, said healthcare and taxes are some of the most significant burdens on his small business.
“As a small business that employs about 20 people, the company and our employees are paying twice what they paid for health insurance just two years ago, and are getting less for it,” he noted. “We are hopeful that the Trump administration can find a way to lower health insurance premiums while maintaining or increasing coverage benefits.”
In addition, he said his company pays more than $70,000 to get its tax returns prepared and filed because tax laws have become so complex. “Lowering and simplifying taxes would make a huge impact on our small business. The lower taxes would free up cash to invest in growing the business and employing more people,” he said.
Greg Corey, owner of Porchlight, a small creative design agency in Atlanta, hopes for effective healthcare reform—not just repealing the Affordable Care Act.
“I am not an expert on insurance and have a hard time trying to figure out the best plans and options are for myself, let alone a plan for less than 10 employees,” he said. “In short, take the responsibility of purchasing insurance for employees from small business owners and make it even more accessible for individuals to purchase on their own.”
Ahead of the inauguration, Trump has already made it clear that repealing and replacing the Affordable Care Act is a top priority.