Of the many proposed Trump administration policy changes, new tax reform changes would have the biggest impact on small and medium business (SMB) owners, according to a new survey released today by Business.com of SMB owners nationwide.

Tax reform would have a greater impact than changes to the Affordable Care Act (ACA), The North American Free Trade Agreement (NAFTA), or the Deferred Action for Childhood Arrivals (DACA), survey respondents said.

Tax reform was the number one concern for 52% of SMB owners, with 46% saying they are holding off on making any big decisions on their business while tax change uncertainty is the air. Changes to ACA are a major concern of 74% of respondents, with 33% of respondents ranking it first and 41% ranking it second.

Other key findings include:

  • 49% of respondents see tax bracket change as their biggest tax reform concern, while 30% were more concerned with changes to deductions.
  • More than 49% of SMB owners say the ACA has harmed their business, and 70% believe its repeal would have a positive impact on the bottom line.
  • SMB owners are less concerned with changes or a repeal to DACA and NAFTA.
    • Only 14% of respondents currently take advantage of the free trade tenets of NAFTA, and the majority of those respondents are in the manufacturing industry.
    • Only 8% of respondents say DACA has a strong impact on their budgeting, but 25% of respondents did say their customer base would be affected if DACA was repealed.

“Tax policies really impact the bottom line for SMBs, so these business owners are watching Washington closely to see how these reforms play out and what the timeline for implementation might be,” says Doug Llewellyn, President and COO of Purch, which owns and operates the Business.com brand. “Businesses always find uncertainty challenging to navigate, especially tax uncertainly. That’s why Business.com is giving SMBs up-to-date information and access to experts to help them navigate the uncharted tax landscape.”

The Business.com survey ran September 25-29, 2017, with nearly 700 Business.com members across a variety of industries from around the country responding. For more information on the survey, please visit https://www.business.com/articles/tax-reform-biggest-concern-to-smbs/

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Purch’s chief operating officer, Doug Llewellyn, recently sat down with SMB CEO to discuss how Purch is bringing the power of information to small-to-medium-sized businesses (SMBS). This extensive Q&A reveals the true value behind Business.com’s new Business Report Card, a “Zillow-like” tool that SMB owners can use to determine the value of their businesses…

“Purch already had a robust community of 5.7 million SMB members, but we wanted to extend further into the very important, but often underserved, category. We relaunched Business.com in April as a platform that serves small-to-medium businesses throughout their lifecycle, from budding start-up to global expansion.

Business.com currently has a focus on 15 key industries, including restaurants, construction/general contracting, retail and other key verticals. We wanted to start out in those industries to tackle the biggest sectors where we could make an immediate impact based on our experience, the size of our membership within these industries, and the alignment across these industries with our existing partners.

Business.com will expand across even more areas so we can address the needs of all small business owners.”

Read the full interview with SMB CEO here.

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Putting a dollar amount on what your small/medium sized business is worth can be a very difficult task. In fact, 85 percent of the world’s 200 million small businesses don’t know what they’re worth. Enterprise level companies can even struggle with this and often hire outside help to assist with the evaluation. There are many factors that can go into a valuation. Plus, small business owners can often be emotionally attached to the business — failing to really look at the situation objectively.

What’s the solution? Purch‘s website Business.com wants to take a lot of the guesswork out of evaluating the worth of small and medium sized businesses and has launched the Business.com Report Card, powered by BizEquity.

Read the full article by Sarah Kimmel.

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Business.com partners with BizEquity to give SMBs competitive advantage with big-business insights into market value.

(New York, July 19, 2017) Purch’s Business.com has launched the Business.com Report Card, powered by BizEquity, a small business valuation service that gives small-to-medium businesses realistic estimates of their value and comparisons with regional and national industry averages to help SMB owners better understand and grow their businesses.

Built on Purch’s already robust community of 5.7 million SMB members, Business.com relaunched in April as a content and commerce marketplace that connects industry-specific communities of small business owners with the experts who can help them grow their businesses. The Business.com Report Card, developed in part with online business valuation leader BizEquity, is the latest tool in the company’s growing SMB portfolio that gives small business owners access to vital business development services that were previously unavailable to them.

“Business.com continues to revolutionize the small business publishing model,” said Greg Mason, CEO of Purch. “This new SMB valuation tool fills a gap in the market by creating a ‘Zillow-like’ service for small businesses that helps SMB owners better understand their business’ value and gain clearer insight into their competitive standing.”

In addition to giving SMBs big-business insights through the key valuation metrics of asset, equity, enterprise, and liquidation, in the coming months, Business.com will allow SMBs to: Buy, sell or advertise their business; Manage local listings; Monitor reviews, social sites, and keyword/SEO performance; And compare business services ranking in relevant industries to what competitors are using.

The Business.com Report Card will be available for use across all the industries served by Business.com, including restaurants/hospitality, construction/general contracting, retail, healthcare, manufacturing, real estate, agriculture, travel, and financial services.

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Doug Llewellyn is the President and Chief Operating Officer of Purch, a New York City-based digital publishing and marketplace platform that helps more than 100 million users make better buying decisions. Purch is now relaunching Business.com, a platform that allows Purch to develop an ecosystem for small- to medium-sized businesses (SMBs). The new Business.com provides entrepreneurial expertise, products and services, all of which are crucial for SMBs to navigate complex buying decisions and gain a competitive advantage.I had the opportunity to hear from Doug and learn what value Business.com is bringing to growing businesses.

To read the article, please click here

 

 

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