January 27, 2025 – The U.S. Chamber of Commerce's recent Small Business Update, led by Executive Vice President and Chief Policy Officer Neil Bradley, provides critical insights into the challenges and opportunities small businesses will encounter in 2025.
Key Topics Discussed:
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Economic Outlook: While the economy continues to grow, inflation remains a concern. Bradley emphasized the importance of "finishing the fight against inflation" to ensure sustainable economic health.
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Regulatory Environment: The current administration is focusing on reducing regulatory burdens in areas such as labor laws, overtime rules, and access to credit, which could benefit small businesses.
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Tax Policy: With provisions of the 2017 Tax Cuts and Jobs Act set to expire, potential tax increases loom for the 2025 tax year unless extensions are enacted.
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Access to Capital: High interest rates, implemented to combat inflation, are affecting small businesses' borrowing costs and access to capital.
The U.S. Chamber of Commerce advises small business owners to stay informed about these developments and consider proactive strategies to navigate the evolving economic landscape.
For more detailed information, please refer to the full blog post from the U.S. Chamber of Commerce here.
