Paychex Small Business Confidence Index hit a 10 year high as small businesses reacted to the recent executive order decreasing regulations by President Trump. The new Two-for-one order, creates the rule that for every one regulation added within a department, two regulations must be eliminated.
To begin, I am also one of those small businesses that are optimistic about the future of business under a Trump administration. With that being said, very soon specifics will have to be given in order for true small business growth to take place. As I mentioned previously, the current Two-for-one executive order can easily be bastardized under its current format (there is no current definition of what qualifies as a regulation to date). While I’m not jumping off the bandwagon just yet, I am looking for alternative routes….
Still, confidence and optimism has every right to be at an all time high. The Obama administration did a good job of bringing America out of the recession despite conservative rhetoric, however now is the time for our country to see even more growth with the easing of regulations and that should see an increase in funding and small business opportunities.