2012 election will impact the business community more than previous years
Published Aug. 28, 2012
From big corporations down to the small one-owner corner shop, businesses of every size are closely watching the presidential candidates.
“There is a tremendous amount of uncertainty on the part of businesses across the board,” said Thomas Kruczek, dean of the College of Business and Management at Lynn University.
A crucial point for the 2012 elections is the debate over health care, and even more crucial is the uncertainty over how our government is going to handle health care. According the National Federation of Independent Business (NFIB), 52 percent of small business owners said this issue is ‘critical.’ It’s easy to see why when you consider that the NFIB also reported that health-insurance costs have increased by 103 percent for small businesses over the past decade.
“Business leaders and business owners are reluctant to expand, to hire, or to invest, because they are worried about what’s going to happen after the election,” said Kruczek. “What happens in this election has the potential for a huge economic impact, particularly on smaller businesses, and the current state of limbo is causing a lot of angst in the business community.”
According to Kruczek, “It doesn’t matter which side of the debate they are on, at this point they can’t budget or plan because they don’t know whether 'Obamacare' is going to stay or go.”
More on Kruczek:
Kruczek is dean of Lynn University’s College of Business and Management.
Areas of expertise: the contribution of entrepreneurs and small businesses to the economy, American entrepreneurial culture, business schools and higher academia
Brief bio: Kruczek started and sold successful businesses during his long career and understands how entrepreneurship and business startups can help grow the economy. He has fostered several outreach and incubator programs as part of his effort to bring academia and entrepreneurship together.