The conservative Drudge Report links the boom in optimism among small businesses to Trumpism.
The Drudge Report may be on he money.
After all, Trumpism advocates blowing up unnecessary regulation. And regulation not only impedes small business. Compliance is expensive. "Small business" is officially defined as an enterprise with no more than 500 employees.
Well, the National Federation of Independent Business' Index puts optimism at 105.8. That's 7.4 points higher than it had been last month. Here is the coverage from Bloomberg.
That's the highest optimism has been since 2002.
As you recall, 2002 was before the global financial crash. In 2004, I had sold the property I had purchased three years earlier for double its value. When I needed a job, I applied and was hired the next day by a small business. I began working the day after.
Small business optimism means expansion of the enterprise. That means more jobs created. The issue that will become media-worthy is: Will what's created be "junk jobs" or well-paying ones with benefits?
But for SmallLaw this can mean increased demand for nuts and bolts services. Those range from formation of the LLC to contracts for joint ventures. Also, in good times the number of divorces tends to go up. Historically, that had been a dependable bread and butter item.
Right now, SmallLaw would be smart to do outreach. That includes providing complimentary informational seminars about, for example, the structure most useful for a growing enterprise or procedures to prevent employee lawsuits. Also, leveraging social media and social networks should focus on helping businesses start and grown.
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