Small Business Owners Express Optimism for Economic Growth Following Trump's Re-election

The results of the Freedom Economy Index survey, conducted in the wake of the 2024 presidential election, indicate a dramatic shift in economic sentiment among small business owners following Donald Trump's re-election. The survey, which gauged the opinions and expectations of America's small business community, reveals a stark contrast in economic outlook based on the election outcome.

According to the survey, 83% of small business owners expressed a greater willingness to expand and invest in their businesses under a second Trump presidency. Additionally, 81% indicated plans to increase hiring. These figures stand in sharp contrast to the less than 2% who said they would expand, and less than 1% who would hire new employees, under a hypothetical Harris presidency.

The survey also highlighted a significant change in inflation expectations. While 87% of respondents reported in October that high inflation continued to be a problem, less than 1% anticipated needing to prepare for greater inflation following Trump's win. This shift suggests a renewed confidence in economic stability among small business owners.

The pre-election economic sentiment painted a more pessimistic picture, with 52% of business owners feeling "pessimistic" or "worried" about the future of their businesses. Moreover, 63% reported a somewhat or much more negative opinion of the US economy in the month leading up to the election.

Michael Seifert, CEO of PublicSquare, commented on the survey results, stating, "The Freedom Economy Index has been spot on in describing the pain small business owners have endured over these past four years, and I expect these same business owners will follow through on their intentions to invest in their business growth under a Trump presidency."

Andrew Crapuchettes, CEO of RedBalloon, added, "It's been less than 24 hours after the polls closed, and we're already feeling a new energy among our customers."

These survey findings suggest potentially significant implications for the US economy. If small business owners follow through on their intentions to invest and hire, it could lead to increased economic growth, job creation, and potentially, a boost to local economies across the nation. However, it remains to be seen how these intentions will translate into actual economic activity in the coming months and years.