What scares small business owners the most this Halloween? Nearly a quarter (23 percent) 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 percent 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 percent are saying they’re optimistic about the economy, compared to 70 percent 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 percent); employees leaving (16 percent); a recession (9 percent); competitors (7 percent); a stock market crash (4 percent); and finding someone to take over the business when they retire (1 percent).