According to a private poll 71% of small business owners usually feel worried about the upcoming election, 38% are feeling very concerned, and 33% are somewhat concerned. And how could they not be with so much recent talk of the changing city dynamics?
Some businesses are so worried, they’re saying the uncertainty of the November election is having a negative impact on their business, says one small business owner. “Some of us have put off hiring and/or ordering equipment.” They also go on to say, “Overall, small-business confidence fell to a low level due to new businesses and rising rents changing landscape of the Inglewood.
So we can see that nervousness around small business isn’t uncommon for an election year. We know small business owners are feeling uneasy, but is an election year actually bad for business?
Mayoral candidate Marc Little thinks, at the end of the day, small business owners have to step up and prepare.
“The challenges to small businesses in light of the large developments is the same as in all changing communities. Competition either makes us better or we are forced to re-evaluate, adopt, or change. Additionally, the development of the Hollywood Park site will also bring customers and contracts for our small business owners. I believe the only obstacle is being prepared. Small business owners must prepare themselves for the Inglewood that will exist 5 to 10 years from today. If they can meet the needs of the future, they will survive and thrive,” says Little. He also states, “The greatest obstacles to small business ownership is access to capital and technical assistance. The city can and should promote public-private partnerships that influence robust opportunities between lenders, non-profits and small business owners.”
Why an election year could be the right time for you to start a business:
It’s the perfect time to focus on a passion project. Election years can feel pretty hostile. There’s a lot of arguing and overall negativity in the air. Even if you’re the type to separate yourself from heated discussion, there’s really no way to escape every impassioned opinion around you. Ask any entrepreneur and they’ll tell you when you own a business, especially in the beginning phases, you don’t really have the time nor the energy to think about much else. If you don’t like the hustle and bustle of election season, and you’ve always wanted to start a business, an election year could be the perfect time to dig into a an all-consuming project that’s all your own.
Start strong and stay strong.
If you start your business during a time when a lot of the nation’s entrepreneurs are feeling uneasy, I guarantee there’s not much else that will be able to shake you as a business owner. Just as our small business experts stated above, elections happen every four years. Small business owners become nervous every four years- this is just the natural flow of things. Don’t let this cyclical uneasiness stop you from starting a business you were going to start anyway. The rules and regulations that affect small business change every so often, at the end of the day, there are still small businesses trucking along. IBM