It's Small Business week. BTW, how are small businesses?
Anecdotally, it would seem that the current state of the economy has invigorated small businesses across the country. But, non-anecdotally, all might not be as rosey as it seems on the surface.
The tax cuts which came into effect last year have caused some businesses — though not all, depending on industry and other circumstances — to reap larger profits. But the tax cuts haven’t produced the results anticipated. According to a Bank of America survey of 1,500 small business owners, only 28% have seen good results from the tax cuts. Further, the Federal Reserve has reported that, of its 12 regional banks, two-thirds have reported negative results from the tariffs instituted several months back.
And then there’s that whole deficit thing…
So with tax cuts, increased deficits and deregulation, are we looking at a repeat of the Bush Economy?
It’s Small Business week. Time for small businesses to look ahead and prepare.