Whether you hate or love President Trump, the American economy is doing great. Time will tell if the recent China tarrifs will continue this trend, but for now at least, America is as strong as its ever been. A recent poll conducted by CNBC/SurveyMonkey on the state of small businesses confidence revealed that “fifty-nine percent of small-business owners approve of the way the president is handling his job. That number has stayed virtually unchanged in the past year.” The poll was taken around mid April and included about 2,000 small business owner responses.
As a small business owner myself, I have to agree with the sentiment. While tax reform may not be as beneficial to small firms as the president alluded to, his ability to stay away from major regulation has helped the economy continue its expansion (I say that right after I point out his tariff implementation lol). According to CNBC for “the first time since CNBC and SurveyMonkey began taking the pulse of Main Street more than a year ago, a majority of small-business owners across the country say business conditions are “good.””
The CNBC/SurveyMonkey Q2 Small Business Confidence Index is based on a scale ranging from 0 to 100 with zero being no confidence and 100 being perfect confidence. Currently the Index sits at 61, a slight dip from the first quarter of 2018 when it hit a record 62. “The decline can be attributed to a sharp increase in the number of small-business owners who expect trade policy to have a negative impact on their businesses in the next year. That number rose from 17 percent in the first quarter, to 28 percent in this quarter’s poll.”
Regardless, overall optimism was and is high. They say it takes about a year for a President to fully enact his agenda thereby truly affecting the economy. If this is true, so far in the early going things are continuing to run smoothly…..on the small business side at least….