What Will Be the Trump Effect on Small Businesses?

Many local business owners might be scoring big financially, if President-elect Donald Trump fulfills his campaign promises.

As Trump made his way to a family dinner in New York City on Tuesday evening, he told diners, "We'll get your taxes down, don't worry."

“I’m going to be very optimistic,” said Dan Bozzuto, president and CEO of Bozzuto Insurance Services, which insures small- to medium-size businesses.

Trump’s promises to change Obamacare, lower the corporate business tax to 15 percent and cut regulations can free up money for small businesses to reinvest.

“So we look at a business friendly candidate like Mr. Trump as somebody who might reduce the size of government and make it a little easier for us to invest in our business and not have to worry about penalties or regulations,” Bozzuto said.

Despite the guarded optimism, other businesses NBC Bay Area called declined interviews because they were concerned about losing business over a polarized election.

“Many regulations that impact small business are local or jurisdictional, so (Trump) may not be able to influence those things,” said Matthew Mahood, president and CEO of the San Jose Silicon Valley Chamber of Commerce.

The Chamber sent an open letter to the president-elect expressing support of some of his positions but calling his rhetoric on immigration “troubling, ” as his policies would impact overseas workers Silicon Valley tech companies rely on.

“The reality is this: You can make all the promises you want when you’re running for office,” Mahood said. “But the rubber will meet the road when he actually gets into the office and has to get things through the Senate and Congress.”

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