American small businesses are expressing concerns about the state of the economy and placing the blame on elected leaders, according to the findings of August’s Freedom Economy Index. PublicSq. CEO Michael Seifert and RedBalloon CEO Andrew Crapuchettes discussed the survey results in an interview with Fox News Digital. The survey, which was conducted among 50,000 U.S. small businesses, revealed that the top business challenge for 77% of respondents is the “lack of confidence in elected leaders.” Seifert and Crapuchettes emphasized that the lack of trust in elected officials is the root cause of other issues such as government regulation, high taxes, inflation, and rising costs.
The CEOs highlighted the negative sentiment towards inflation among businesses, with the survey indicating that Biden’s economy is viewed as being “strongly” on the wrong track and “harmful” to their business. Crapuchettes noted that there is a divide between the “red economy” and the “blue economy,” suggesting that businesses focused on hard work and customer service are thriving in red states, while those in blue states are struggling due to a lack of focus on their core business. The CEOs also pointed out that the priorities of elected officials are out of touch with the desires of the American people, as reflected in the pop culture trends of recent months.
Despite concerns about a potential recession, the CEOs stressed the importance of financial stewardship and knowing where your dollars are going in uncertain times. They advised businesses to be conscious of their spending and to build relationships with trusted suppliers and vendors. They also encouraged businesses to be outspoken about their values and principles, as this can attract customers and employees who align with those principles.
The survey found that businesses that have embraced the freedom economy are proving to be profitable, with a 4.5% increase in businesses hiring to expand or fill current openings. The CEOs urged small businesses to be encouraged by the growth of the freedom economy and to continue to build new institutions and economic ecosystems that Americans can trust.
Overall, the survey paints a picture of small businesses facing challenges and expressing their frustrations with elected leaders. The CEOs argue that the lack of trust in the government is having a detrimental effect on the economy and that businesses should focus on financial stewardship and principled actions to secure their future success.
Original Story at www.foxbusiness.com – 2023-09-15 09:11:15
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