Small business owners across America have expressed renewed optimism for economic growth and business expansion following the re-election of Donald Trump, according to a recent survey conducted by the Freedom Economy Index. The survey, which gauged the sentiments and expectations of small business owners before and after the election, reveals a significant shift in economic outlook and business plans.
Prior to the election, the small business community had been grappling with economic challenges, with 52% of respondents reporting feelings of pessimism or worry about the future of their businesses. Additionally, 63% of business owners indicated that their view of the U.S. economy had become more negative in the month leading up to the election. High inflation was cited as an ongoing concern by 87% of respondents in October.
However, the survey results show a dramatic change in sentiment following Trump’s victory. An overwhelming 83% of small business owners now express a greater willingness to expand and invest in their businesses under a second Trump presidency. Furthermore, 81% of respondents indicate plans to hire more employees, signaling potential job growth in the small business sector.
The contrast in expectations between a Trump presidency and a hypothetical Harris presidency is stark. Less than 2% of respondents said they would consider expansion under a Harris administration, and less than 1% anticipated hiring new employees in that scenario.
Notably, inflation concerns appear to have dissipated among small business owners, with less than 1% indicating a need to prepare for greater inflation under Trump’s second term. This marks a significant shift from the pre-election period when inflation was a major worry for the majority of respondents.
Michael Seifert, CEO of PublicSquare, commented on the survey results, stating, ‘The Freedom Economy Index has been spot on in describing the pain small business owners have endured over these past four years, and I expect these same business owners will follow through on their intentions to invest in their business growth under a Trump presidency.’
Andrew Crapuchettes, CEO of RedBalloon, added, ‘It’s been less than 24 hours after the polls closed, and we’re already feeling a new energy among our customers.’
The survey’s findings highlight the potential for a resurgence in small business activity and economic growth. With increased willingness to invest and expand, small businesses could play a crucial role in driving economic recovery and job creation in the coming years. The shift in sentiment also underscores the impact of political leadership on business confidence and economic expectations.
As the nation moves forward under a second Trump administration, the small business sector’s optimism could translate into tangible economic benefits. However, it remains to be seen how these intentions will materialize in the face of ongoing global economic challenges and potential policy changes.
The full survey results, available on the Freedom Economy Index website, provide further insights into small business owners’ perspectives and expectations for the future economic landscape. As the administration takes shape and implements its economic policies, the response of the small business community will be a key indicator of the nation’s economic trajectory.
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