“Prices of my propane have almost doubled and electricity costs have gone up,” said Jeanine Pruitt, Guidant client and owner of Sitting Elk Hospitality, Inc. “That means I need to increase the cost of my cabin rentals, leading to fewer rentals and less revenue for my small business.”
Of the approximate 300 respondents, an overwhelming number – 75 percent – cited the U.S. economy as the most important election issue. Nearly 80 percent of respondents said they don’t believe the economy is on the right track.
“Franchise businesses have enormous capacity to grow and create new jobs, but have been facing challenges such as inadequate access to capital and uncertainty regarding the future of tax rates that have hampered their growth,” said International Franchise Associate President and CEO Steve Caldeira. “While forecast for modest 1.5 percent growth in 2012 that outpaces most other sectors, with additional access to capital and long-term certainty on tax rates, franchise businesses could return to pre-recession growth rates of 4-5 percent.”
Franchisees and other small business owners could benefit from tax legislation, which is a focus of the conservative platform to revive the economy.
“Walking down any Main Street in America shows the obvious: that small businesses are struggling,” said Congressman Dave Reichert (R-WA). “It is absolutely a priority to simplify the tax code, get rid of government red tape and allow our businesses the freedom, flexibility and economic certainty to do what they do best: create, innovate and build.”
The democratic ticket also has champions for small business, such as Congressman Adam Smith (D-WA).
“Small business is the backbone of the economy,” said Congressman Smith. “In these tough economic times, it is more important than ever that we provide the assistance that our small businesses need to thrive. We must work to ensure that they have straightforward access to the government, policies to incentivize growth and investment and adequate access to capital.”
Guidant Financial conducted a poll of its clients September 2012 to October 2012 to identify specific issues and concerns its clients face. More than 300 people completed the survey.
About Guidant Financial
Guidant Financial is a premier provider of rollovers as business start-ups (ROBS). Guidant's services allow aspiring entrepreneurs the freedom to invest their existing IRA or 401(k) funds into a small business or franchise without taking a taxable distribution or getting a loan. The company helps people create the life they want. For more information on Small Business Financing, visit Guidant online at http://www.guidantfinancial.com, http://www.twitter.com/guidant or http://www.Facebook.com/GuidantFinancial.
Rosalind Brazel, (206) 343-1543, firstname.lastname@example.org Twitter: @rosalindbrazel
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