EOC Week 7: Trump and Small Business

This November, the people of the United States made a decision that stuck a chord throughout the globe. Markets crashed, people rioted and many foreign investors seemingly lost hope in the future of the United States. Without even being assigned the official presidency, president-elect Donald Trump has shaken up the world. "As unpredictable as this election has been, researchers at Bespoke Investment Group have found that stocks have been fairly predictable after the election, tending to sell off." (Marketwatch.com) With the markets scattered across the board and the American people torn, the election of Trump will surely have a noticeable effect on the lives of small-town Americans and especially small business owners. While Trump may have personality differences, his policies are actually pretty familiar to the American people, taking stances on issues that we've seen from both major political parties. When it comes to small business, a Trump presidency actually seems promising. "Karen Kerrigan, president and CEO of The Small Business and Entrepreneurship Council (SBE Council), looks forward to working with Trump’s administration, stating that 'His agenda of lower taxes and simplifying the tax code, relieving small businesses of excessive regulation and red tape, competitive solutions for more affordable health insurance, bringing down barriers to capital access and formation, leveraging our energy resources and America’s energy renaissance more fully, smarter trade agreements, and advancing growth-oriented policies to restore healthy investment won the day.'" (Blackenterprise.com) Small business owners everywhere are starting to regain some hope with a Trump presidency. With certain policies in place a certain promises fulfilled, a Trump administration is looking to be quite promising for small business owners throughout the country. "Part of Trump’s so-called “new deal,” which he revealed during one of his election stops, included new tax incentives for inner cities, new microloans for African Americans to start companies and hire workers, and a plan to reinvest money from suspended refugee programs in inner cities." (Blackenterprise.com) Since the election, markets have returned to stability and most people have calmed down for the most part. Now us as Americans are left to wait and hope for the change that we have all been looking for.