Survey: SMBs predict prosperous economy post-election

For small to medium-sized business owners (SMBs), this presidential election signifies a potential change for the outlook of the economy, employment issues and health insurance coverage.

A press release issued by Newtek Business Services, Inc. explains that more SMBs are expecting a boost in the economy after the presidential election passes. The company released research based on 1,300 respondents, which illustrated that 70 percent of business owners predict that the economy will be on better footing than in 2012.

About one-third of respondents said that holiday sales will increase, which may help boost economic growth.

"We believe that our sentiment survey represents a sense of optimism among small business owners," Barry Sloane, president and CEO of The Small Business Authority, said in the press release. "The gradual improvement in employment, improvement in the housing sector and a good performance in the stock market has given business owners a sense of renewed optimism. Clearly the population and business owners' alike look forward to the presidential election coming and going."

While business owners are optimistic about the outlook for the economy post-election, there is still a number of potential lawsuits that may arise as a result of the election itself. Business Insider reported that cases may be filed seeking to keep the polls open longer due to the complications after Hurricane Sandy hit the U.S. East Coast.

Alleged voter intimidation and suppression could also lead either political party to file lawsuits against poll watchers. Companies in Arizona and around the country will likely be impacted by the potential for new legislation depending on which candidate is elected to be President of the United States.

When it comes to reaching prerequisites of upcoming legislation, Arizona companies are advised to work with Phoenix business law attorneys to ensure all regulations are followed.

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