Small business outlook for Obama's 2nd term

Associated Press Modified: November 7, 2012 at 4:32 pm •  Published: November 7, 2012

NEW YORK (AP) — President Barack Obama's successful re-election to a second term is sinking in. No matter who small business owners voted for, the election takes away some of the uncertainty that small business owners have been carrying around. The question now is whether Obama can satisfy those who say he hasn't done enough to help them expand and create jobs.




"I've never seen that Obama understands what it takes to be a small business owner," says Lorne Campbell, co-owner of Occasionally Cake, an upscale baker outside of Washington, D.C., who voted for Republican challenger Mitt Romney. He's worried not only about the economy, but also about looming budget cuts that could make his customers forgo the treats his two stores sell. So he has limited his hiring to part-time workers, and doesn't plan to hire anyone full time.

Many advisers to small businesses say companies need to keep an eye on what's happening with taxes and regulations, but they still need to try to expand and grow.

"You should always be looking at maneuvering through an uncertain future instead of saying, 'the future's uncertain and I will do nothing," says David O'Brien, a financial planner in Richmond, Va., whose small business clients include engineering firms and technology companies.

Either way, small business owners should stay on top of what's going on around them and their companies. So now that Obama has won four more years, what can small business owners can expect from Obama on taxes, health care, the economy and regulation? The Associated Press interviewed small business experts and advocates to find out.











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