Donald Trump has re-entered the oval office this week and has begun his second term as president. This will quickly change the environment that your business is operating in. Here are some changes that may be coming:

Deregulation: Trump has favored reducing regulation on businesses, which could encourage innovation, job creation, and investment. It tends to streamline processes and reduce costs.

Tariffs: Trump has been open about his plan to raise tariffs on foreign-made goods, encouraging Americans to bring manufacturing and production back home. This will likely raise the competitiveness of some American industry sectors. However, this could have an inflationary effect on businesses that rely heavily on foreign goods.

Tax Relief: Trump will likely lower corporate taxes and has also proposed lowering or eliminating some taxes for hospitality or service workers. This would create more capital available to business owners. However, if American productivity doesn’t rise as a result, stress on the economy and ultimately inflation may occur. Access to Capital: In the first two years of Trump’s first term, SBA lending rose. Americans want to own a business and work for themselves. It’s more apparent than ever with the huge increase in buyer activity. If you own a business and would look at selling in the near future, this is critical to understand. 

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The environment around your business is constantly changing, and the next four years will surely bring new opportunities and challenges. Our team of experienced advisors is here to guide you through your journey. You’ve built your business; we take you to the next chapter.