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Small Businesses Talk a Big Game Regarding Presidential Election

Small Businesses Talk a Big Game Regarding Presidential Election

Like all aspects of life, the presidential election will have an impact on businesses. Stock market analysts use the election as a predictor on how stocks will fare in 2017. Small businesses look at elections differently. They usually are affected by local (mayoral or state) elections more than the presidential, but that doesn’t stop them from giving an opinion on it.

Based on a small business report, about one-third of those surveyed don’t see any effect at all. However, here are some issues from small businesses that they want to see the president tackle.

Community Banking

Local banks whose customers are small businesses face a disadvantage because of regulations that were implemented after the bank crisis. Although communities need the federal law to stop the same thing happening all over again, it places a disproportionate financial burden on smaller banks. They struggle to service the businesses who are their customers. The number of small banks in the United States dropped 14 percent after Dodd-Frank was enacted in 2010, according to researchers at George Mason University.

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Government Contracting

The federal government is supposed to give a certain percentage of contracts to small businesses, especially those owned by women and minorities. They should be awarded contracts to companies in economically disadvantaged neighborhoods. Small businesses plan to hold the government accountable to reach their goals for government contracting. The government did not reach its 5 percent goal for contracts for women-owned companies in the 2013 fiscal year. Agencies also didn’t give a 3 percent goal for companies in disadvantaged areas.

Regulations

The National Small Business Association, which is a group that supports small businesses in front of Congress and the president, says small companies have difficulty complying with current regulations. Many are unclear or are inconsistent with each other.

Because they choose the heads of the agencies, presidential candidates can impact how the government moves on this issue. NSBA wants Congress to move instead of being constantly blocked and wishes for the presidential candidate that can bring the legislative and executive branches together.

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Credit Card Fraud

Small businesses want the same protections against credit card hacking and fraud that consumers enjoy. When consumer accounts are hacked, federal law says the consumer be notified. However, businesses don’t get that help automatically. Credit card fraud can be the death of their companies if someone hacks into their system. Plus, it opens them up to legal issues by clients and customers.

Online Lending

Online lending has grown quickly, and small businesses have taken advantage of it. Banks aren’t awarding loans to small businesses, so they are turning to the online lenders. They aren’t regulated, which leads to high interest rates and unfair practices. Lenders are practicing predatory lending, which is not allowed if you went to a financial institution that has a brick and mortar site.

Small businesses also want tax breaks like $500,000 deductions for equipment purchases made permanent, instead of being approved annually by Congress. The group also wants self-employed people to get full deduction of their health insurance premiums; currently, if their business incurs a loss, they cannot deduct the premiums.

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About 800 small business owners were asked who they prefer to win the Republican nomination. Less than half, about 40 percent of those polled, believe that Donald Trump is the right man for the job. They cited the economy for small businesses as the reasons for Trump. Women business owners also favored Trump.

On the Democratic side, the survey respondents choose Bernie Sanders over Hillary Clinton.

The United States has more than 28 million small business owners operating. They are a strong force on the economy and want their voices heard in this election. They favor candidates who will fight unfair taxes and inconsistent regulations. They want to have a conversation with those in the elected office, not to be ignored. As the primaries continue, small businesses are watching the candidates looking for the ones who will support their issues.

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Featured photo credit: Small Businesses via lifehack.org

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Last Updated on March 29, 2021

5 Types of Horrible Bosses and How to Beat Them All

5 Types of Horrible Bosses and How to Beat Them All

When I left university I took a job immediately, I had been lucky as I had spent a year earning almost nothing as an intern so I was offered a role. On my first day I found that I had not been allocated a desk, there was no one to greet me so I was left for some hours ignored. I happened to snipe about this to another employee at the coffee machine two things happened. The first was that the person I had complained to was my new manager’s wife, and the second was, in his own words, ‘that he would come down on me like a ton of bricks if I crossed him…’

What a great start to a job! I had moved to a new city, and had been at work for less than a morning when I had my first run in with the first style of bad manager. I didn’t stay long enough to find out what Mr Agressive would do next. Bad managers are a major issue. Research from Approved Index shows that more than four in ten employees (42%) state that they have previously quit a job because of a bad manager.

The Dream Type Of Manager

My best manager was a total opposite. A man who had been the head of the UK tax system and was working his retirement running a company I was a very junior and green employee for. I made a stupid mistake, one which cost a lot of time and money and I felt I was going to be sacked without doubt.

I was nervous, beating myself up about what I had done, what would happen. At the end of the day I was called to his office, he had made me wait and I had spent that day talking to other employees, trying to understand where I had gone wrong. It had been a simple mistyped line of code which sent a massive print job out totally wrong. I learn how I should have done it and I fretted.

My boss asked me to step into his office, he asked me to sit down. “Do you know what you did?” I babbled, yes, I had been stupid, I had not double-checked or asked for advice when I was doing something I had not really understood. It was totally my fault. He paused. “Will you do that again?” Of course I told him I would not, I would always double check, ask for help and not try to be so clever when I was not!

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“Okay…”

That was it. I paused and asked, should I clear my desk. He smiled. “You have learnt a valuable lesson, I can be sure that you will never make a mistake like that again. Why would I want to get rid of an employee who knows that?”

I stayed with that company for many years, the way I was treated was a real object lesson in good management. Sadly, far too many poor managers exist out there.

The Complete Catalogue of Bad Managers

The Bully

My first boss fitted into the classic bully class. This is so often the ‘old school’ management by power style. I encountered this style again in the retail sector where one manager felt the only way to get the best from staff was to bawl and yell.

However, like so many bullies you will often find that this can be someone who either knows no better or is under stress and they are themselves running scared of the situation they have found themselves in.

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The Invisible Boss

This can either present itself as management from afar (usually the golf course or ‘important meetings) or just a boss who is too busy being important to deal with their staff.

It can feel refreshing as you will often have almost total freedom with your manager taking little or no interest in your activities, however you will soon find that you also lack the support that a good manager will provide. Without direction you may feel you are doing well just to find that you are not delivering against expectations you were not told about and suddenly it is all your fault.

The Micro Manager

The frustration of having a manager who feels the need to be involved in everything you do. The polar opposite to the Invisible Boss you will feel that there is no trust in your work as they will want to meddle in everything you do.

Dealing with the micro-manager can be difficult. Often their management style comes from their own insecurity. You can try confronting them, tell them that you can do your job however in many cases this will not succeed and can in fact make things worse.

The Over Promoted Boss

The Over promoted boss categorises someone who has no idea. They have found themselves in a management position through service, family or some corporate mystery. They are people who are not only highly unqualified to be managers they will generally be unable to do even your job.

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You can find yourself persistently frustrated by the situation you are in, however it can seem impossible to get out without handing over your resignation.

The Credit Stealer

The credit stealer is the boss who will never publically acknowledge the work you do. You will put in the extra hours working on a project and you know that, in the ‘big meeting’ it will be your credit stealing boss who will take all of the credit!

Again it is demoralising, you see all of the credit for your labour being stolen and this can often lead to good employees looking for new careers.

3 Essential Ways to Work (Cope) with Bad Managers

Whatever type of bad boss you have there are certain things that you can do to ensure that you get the recognition and protection you require to not only remain sane but to also build your career.

1. Keep evidence

Whether it is incidents with the bully or examples of projects you have completed with the credit stealer you will always be well served to keep notes and supporting evidence for projects you are working on.

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Buy your own notebook and ensure that you are always making notes, it becomes a habit and a very useful one as you have a constant reminder as well as somewhere to explore ideas.

Importantly, if you do have to go to HR or stand-up for yourself you will have clear records! Also, don’t always trust that corporate servers or emails will always be available or not tampered with. Keep your own content.

2. Hold regular meetings

Ensure that you make time for regular meetings with your boss. This is especially useful for the over-promoted or the invisible boss to allow you to ‘manage upwards’. Take charge where you can to set your objectives and use these meetings to set clear objectives and document the status of your work.

3. Stand your ground, but be ready to jump…

Remember that you don’t have to put up with poor management. If you have issues you should face them with your boss, maybe they do not know that they are coming across in a bad way.

However, be ready to recognise if the situation is not going to change. If that is the case, keep your head down and get working on polishing your CV! If it isn’t working, there will be something better out there for you!

Good luck!

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