I’m a Small Business Owner: How Trump’s Economic Policies May Hurt My Business
Written by
Chris Adam
Edited by
Zuri Anderson
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As a small business owner, Aziz Bekishov, DC Mobile Notary, is preparing for President Donald Trump to put in place new economic policies that may impact his company.
Now the entrepreneur is concerned about three ways their business might be negatively impacted during Trump’s presidency.
Tax Breaks
While some businesses may be helped by tax breaks, Bekishov said he thinks the focus for Trump may hurt his organization.
“The emphasis on tax breaks for large corporations disproportionately affects small businesses like mine,” Bekishov said. “While big companies enjoy significant cuts, smaller businesses often struggle to compete, making it harder to reinvest in growth or hire additional staff.”
Tariffs and Increased Costs
Trump has talked extensively about plans for tariffs to help level the playing field for American businesses. Critics have argued they’ll hurt consumers through increased prices.
“Tariffs on imported goods have led to higher prices on items I need to run my business, particularly technology and supplies,” Bekishov said. “This directly impacts my bottom line and reduces the funds available for marketing or expansion.”
Inflation
Speaking of higher prices, consumers have been expressing concerns about inflation for more than a year now. Bekishov said there are also concerns for small business owners as Trump takes office.
“Inflation under Trump-era policies has increased operational costs, from office leases to utility bills,” Bekishov said. “As a small business with limited resources, absorbing these costs is a challenge, requiring careful financial planning to avoid passing the burden onto my customers.”
For Bekishov, there are some specific plans in place to help the business as Trump starts another term:
- Cost management: Bekishov started exploring ways to cut operational costs, such as automating administrative processes and renegotiating contracts with suppliers.
- Diversification: Expanding service offerings, such as launching DuoNotary for remote notary services, helps to offset revenue losses from rising costs.
- Community engagement: By focusing on customer retention and building strong local partnerships, Bekishov aims to foster loyalty and stabilize revenue despite external economic pressures.
Bekishov said other small business owners should stay agile, control overhead and advocate for fair policies.
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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