Higher costs, labor shortages, and strained profit margins: A look at what small businesses could face under Trump

The gap between the president-elect’s claims and market expectations may offer temporary reprieve, but small businesses should prepare for turbulence.

A stark reality check looms for America’s 33 million small businesses: While campaign promises suggest dramatic economic shifts, market indicators tell a different story. This disconnect—between political rhetoric and market expectations—creates both uncertainty and opportunity for SMBs, which represent 43.5% of U.S. GDP and employ nearly half of private-sector workers.