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5 Post-Election Changes for Businesses

The election is over, so what’s next for businesses in the coming years?

Donald Trump is the next president, some states are increasing minimum wages and a variety of other changes are ahead for U.S. companies. Do you know what to expect? 

Inc. magazine offers insight, predicting several results from the Trump presidency that will impact commerce.

Here are the Inc. projections, based on campaign promises and analyses:

  1. “The stock market will crash” because “financial markets loathe uncertainty and a President Trump would bring plenty of that.”
  2. If Trump’s tax plan goes through, then “Your business taxes may go down. Your personal taxes definitely will.”
  3. “Obamacare may go away” because Trump has talked about getting rid of the Affordable Care Act, and  “as president he might actually be able to do it.”
  4. “It will be harder to hire immigrants.”
  5. “The minimum wage might still go up, but not as much” because Trump has wavered in his resolve against hourly wage increases.

In addition to voting for the next president, voters in a few states considered ballot issues that will impact businesses.  The results are that minimum wages will increase to $12 per hour in Arizona, Colorado and Maine, and bump up to $13.50 in Washington, according to The Atlantic.

About Kate Klein

Kate is profiles editor for Hardware Retailing magazine. She reports on news and industry events and writes about retailers' unique contributions to the independent home improvement sector. She graduated from Cedarville University in her home state of Ohio, where she earned a bachelor's degree in English and minored in creative writing. She loves being an aunt, teaching writing to kids, running, reading, farm living and, as Walt Whitman says, traveling the open road, “healthy, free, the world before me.”

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