Amy Shoenthal is the USA TODAY bestselling author of The Setback Cycle, a book about how today's most extraordinary founders and leaders work through their most defining moments. She is also a sought after speaker, from TEDx to keynotes.
As the U.S. braces for the upcoming presidential election, small business owners harbor a unique set of concerns around how the outcome might impact their day to day operations. From legislation that could affect taxes, healthcare costs and regulation, the political climate will have a domino effect on consumer behavior, financial markets and more.
“Political uncertainty in the months leading up to the presidential election can affect confidence and decision-making for consumers, which leads to impact on small business owners and can cause a decrease in consumer spending,” says Cate Luzio, former banker and founder of, a professional education and networking platform.
“Company leadership should always be preparing for uncontrollable changes by discussing different scenarios with their teams so they are prepared,” saysPreston suggests playing out different scenarios so your company and employees are prepared for any outcome. “Enlist feedback and engage with your stakeholders so they know you are preparing,” she says. “Communicate and be transparent with your employees to build trust and reduce uncertainty.
“No matter what industry you're in, sales activity slumps as Americans hold their money tighter, wondering how the election will turn out and what policies a new president will implement that may affect their pocket book,” says Lanning. “You may need to pause hiring, dip into savings or wait to make a big purchase to keep your business healthy.”
U.S. Arizona Election Uncertainty Small Business Owners Prepare For Election Cate Luzio Business Impact Of Election
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