Election, Tax Increases Frightening Small Business Owners
What scares small business owners the most this Halloween? Nearly a quarter (23%) say it’s the results of the presidential election, according to the October 2016 SurePayroll Small Business Scorecard®.
The election narrowly edged out an increase in taxes on earnings, with 21% of small business owners saying such an increase scares them the most.
Just how scary is the election and the possibility of a tax increase? Even more frightening than a recession, a stock market crash or the competition, according to the Scorecard survey.
Small business owners are less optimistic about the economy than they have been in the last year. Only 63% are saying they’re optimistic about the economy, compared to 70% a year ago.
“I think the hype and controversy surrounding the election has everyone on edge and small business owners are feeling that anxiety,” said SurePayroll General Manager Andy Roe.
Other things that small business owners said scare them the most include: government regulations (19%); employees leaving (16%); a recession (9%); competitors (7%); a stock market crash (4%); and finding someone to take over the business when they retire (1%).
Learn more about what scares small business owners in the Halloween edition of our Scorecard on the SurePayroll Blog.
About SurePayroll
SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers’ compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter – Circle us on Google+ – Connect with us on LinkedIn – Like us on Facebook.
About Paychex
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 45 years of industry expertise, Paychex serves approximately 605,000 payroll clients across more than 100 locations and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.
