It’s finally election day. Whether you spend tonight celebrating with a Mazel Tov cocktail (yes, it’s a thing) or working on your emigration papers, here’s a look at how the election may affect everything from the world’s economy to your own small business.
Economic uncertainty
Election season uncertainty knows no limits—it affects individuals as well as business owners.
In fact, one uncertainty index shows that business owners are at an all-time high of confusion on what the future holds for tax rates, government policy, and the economy in general. This means that while they’re stalling for time, our economy is stalling, too.
The good news is that while short-term volatility tends to increase immediately after election day, the uncertainty tends to ease in the months following election day.
Healthcare
Trump promises to repeal the Affordable Care Act immediately. While she acknowledges some core issues with the plan, Clinton promises not only to keep the Affordable Care Act but to fix those problems and expand the program, too.
The Affordable Care Act presents unique challenges for small businesses, especially those who provide insurance for temporary employees. For now, it’s still the law of the land, so we have an implementation guide for you, our 2 cents on the election’s potential effect on the law, and this Washington Post article for you to research for yourself how each candidate might handle your healthcare.
Whatever happens, let’s take a lesson from our friends across the pond: Keep calm, carry on, and make your voice heard at the ballot box.
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