Small business owners are holding back from hiring additional employees ahead of the upcoming presidential election, according to a survey from Adecco.
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Hiring additional staff is on the back burner for 77% of the businesses surveyed , while 55% put a temporary cap on upgrading technology and 52% are holding off on infrastructure investments for the immediate future.
And half (50% ) of the entrepreneurs polled said the newly elected president should give incentives to businesses to hire more employees. Meanwhile, 44% said the president should also invest in infrastructure, and 43% want to see bureaucratic practices for businesses reformed.
Braun Research, which conducted the report earlier this month on behalf of Adecco, surveyed 501 C-suite executives, with 322 of them being small businesses.
A majority (56%) of those responding to the survey cited healthcare benefits as a challenge to business, although only 35% of respondents said they are not hiring because of the healthcare reform act.
When asked about the upcoming election, 53% of business owners voiced their support for Republican Mitt Romney, and only 20% said they support President Barack Obama. Another 14% of owners believe neither candidate is a good option for the growth and success of their businesses. President Obama did not get high marks on business policies, with 61% saying he is not doing all he can to help businesses grow and succeed in the current economy.