Today is Election Day and most of us are nervously biting our nails while awaiting the results. Some because it could affect their legal status and others because it could greatly affect their business’ bottom line. The candidates in this election do not see eye to eye on almost every topic. This degree of difference could end up being very harmful or very helpful to most businesses. It is no shock that the Republican right will generally help businesses in the traditional sense. They will promote less regulation and lower taxes. The left will push for more regulation and more taxes. This leaves hardcore business owners with an obvious choice right?
Some say that less regulation will promote profitability by allowing business owners to avoid the red tape. However, a lack of regulation is what arguably caused the Great Recession. This eventually caused many businesses to close their doors. Others argue that more regulation creates more red tape. Yet, regulation, while keeping consumers safe can also push innovation forward. When regulations require little cost and provide large incentives, this can push a business to the next level.
Whether you choose right or left, your bottom line could go either way depending on whether these candidates stick with the traditional paths of their parties. However, based on the trends in this election, it seems that it may be up in the air.