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Small Business Owners Express Optimism Over Trump Tax Cuts, Survey Says


Small companies are driving a wave of optimism on new tax reform law. A brand new survey from Right Networks unearths 70 p.c of small to medium companies are very assured to fairly assured about this yr’s industry alternatives.

Small Businesses are Optimistic over Tax Cuts

At the center of this optimism is the brand new Tax Reform and Jobs Act. Almost 37 p.c stated it will make a good affect on industry. Forty p.c of the small to medium sized companies polled noticed taxes as the largest regulatory hurdle.

Biggest Challenge

The largest problem was once observed maintaining purchasers and successful new industry. Over 44 p.c of respondents noticed this as their primary worry for 2018. Getting and holding the best ability (19 p.c) and emerging healthcare prices (18 p.c) had been the second one and 3rd at the listing.

The cloud was once anticipated to gas expansion within the new yr, consistent with the survey. A complete 75 p.c of respondents say they already use a cloud-based accounting utility or plan to put in force one in 2018. As a long way as cloud garage is going, 57 p.c stated they both use it or plan to this yr.

Working Remotely

That similar share of respondents reported running remotely each day. A smaller quantity (21 p.c) indicated they labored clear of a central location a number of occasions a month.

Data Security

Data safety for small to medium sized companies stays a most sensible precedence as they transfer into the brand new yr. Almost 34 p.c noticed knowledge safety and privateness as the highest technological problem they had to cope with in 2018. Smaller percentages of respondents had been concerned about dealing with workflow disruption and staying abreast of the newest inventions in generation.

The survey sampled 365 small to medium-sized companies and accountants. Right Networks supplies cloud-based accounting and industry answers to CPA companies, small companies and accounting execs.

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