The Bank of America’s survey of 1,300 small business owners finds a dramatic increase in optimism resulting from the election of President Trump and the Republican Congress:
Small business owners’ optimism about the economy has turned around dramatically since before the election, according to a survey released by Bank of America.
The number of owners expecting the national economy to improve over the next 12 months jumped to 51 percent in the survey released Thursday, from 31 percent in a survey taken from August to October. The number of owners expecting growth in their local economy also rose sharply, to 49 percent from 36 percent.
Owners have been getting more confident since the election, but they’re still cautious about making a commitment to new staffers until they see whether the Trump administration and Congress can deliver on promises like lower taxes and fewer regulations.
This isn’t surprising. Small business tends to be Republican, while big business lines up, for the most part, with the Democrats. President Trump and Congressional Republicans need to ignore the hysteria that is generated daily by the Democrats and their press minions, and focus on keeping their campaign promises. If they do that, positive results will follow, and no one will remember the naysayers, except with amusement.