New Administration Brings Small Business Optimism and Many Challenges

THRIVE, a Paychex Business Podcast · Jan 23, 2025 · 7m

Based on surveys from major companies, organizations, and even chambers of commerce, small businesses are giddy for the upcoming four years under a new administration in the White House. The positive outlooks include 70% expecting revenue increases, 76% planning on hiring more, and 91% expressing confidence in growth. In this episode, Gene Marks tempers the enthusiasm by pointing out the potential hurdles, including a labor market that might lose thousands to deportation, proposed tariffs that could up costs for goods, tax incentives that might expire, and inflation still too high. Listen to…