We must not believe in polls or pollsters ever again, or at least for the near future. Predictions were wrong when pollsters assured us of an imminent victory for Hillary Clinton. And, according to them, small business owners’ optimism before the election was assuredly flat. After the election, the pollsters tell us small business owner’s optimism is soaring. It is soaring so much that despite their great optimism about the new president elect, they are holding onto investing, waiting to see what it’s going to happen when he actually takes office. As is everyone.
Follow the links for more about this and other stories.
Several surveys show that President-elect Donald Trump’s win was a confidence boost for business owners. However, they’re not immediately planning to invest more.
On Tuesday, the National Federation of Independent Business’ report on small businesses continued this trend.
“What a difference a day makes,” said Juanita Duggan, the NFIB CEO, in the release. “Before election day small business owners’ optimism was flat, and after election day it soared.”
The headline Small Business Optimism Index jumped by 3.5 points to 98.4. Like Wall Street, small business owners are betting that Trump’s promises to ease regulations and cut taxes would support their bottom lines.
In fact, compared to the bigger companies — whose shares have rallied since the election — small business owners are likely more excited about these prospects because they have less muscle to cope in the current environment.
According to HubSpot, the third top marketing challenge for companies is the lack of budgeting resources. Unless you are a startup with venture or angel capital, you probably have a limited marketing budget. Here some ways you can market your business on a limited budget.
1. Go guerilla.
Guerilla marketing looks to leverage creativity, imagination and originality in place of a big budget. Smart small businesses with a limited budget often use guerilla marketing to compete with huge companies. There is no shortage of creative guerilla marketing ideas. Here are just a few examples:
The holiday season is typically a busy one for Judge Roy Bean Public House in midtown Manhattan.
The bar and restaurant had been on a solid run, up 20 percent overall for the year, and owner Peter Pernicone had high hopes for strong sales to close out 2016.
Then came Election Day.
The small business is located in the shadow of Trump Tower on West 56th Street, which is now swarmed with New York police officers and Secret Service agents, guarding President-elect Donald Trump as he makes the transition from businessman to commander-in-chief.
“For November, we’re down 30 percent,” Pernicone said. “They’re keeping the streets open, then closing them down. There’s no rhyme or reason. We don’t know what to expect. The police presence on the corner has been intimidating, and tourists are scared to walk down 56th street.”