- “Trump Adviser Peter Navarro Says Small-Cap Stocks’ Rally Will Continue”
Peter Navarro, an adviser to President-elect Donald Trump, has expressed optimism about the continued rally of small-cap stocks. He attributes this positive trend to anticipated policies from the incoming administration, including tax reductions, decreased regulatory burdens, and an emphasis on domestic energy production. These measures are expected to benefit small businesses significantly, as evidenced by the Russell 2000 index’s 16.5% gain in 2024, outperforming the S&P 500 over the past six months. However, challenges remain, such as maintaining key tax benefits for small enterprises, which could cost up to $800 billion over a decade.
Read More: MarketWatch
“Business Owners Should Not Forget Anti-Money Laundering Rule Currently in Legal Limbo”
Small business owners are reminded of the Corporate Transparency Act (CTA) requirement to register with the Financial Crimes Enforcement Network (FinCEN) by January 1. This act mandates owners to provide personal information to combat illicit financial activities. Noncompliance could result in penalties up to $10,000. While businesses with over 20 employees and $5 million in sales are exempt, the rule is currently on hold due to a preliminary injunction. Despite this, experts advise that prudent businesses consider voluntary registration, as future enforcement remains possible.
Read More: AP News
“US Small Business Sentiment Nears 3-1/2-Year High in November”
U.S. small business confidence has reached its highest level in nearly three and a half years, driven by post-election optimism. The National Federation of Independent Business (NFIB) reported an 8-point increase in its Small Business Optimism Index, reaching 101.7, the highest since June 2021. This surge follows the election of Donald Trump and a Republican majority in Congress, with expectations for economic improvement and expansion plans on the rise. Additionally, the labor market remains tight, with 18% of businesses planning to hire, the highest in a year.
Read More: Reuters
“Trump Picks Kelly Loeffler to Lead Small Business Administration”
President-elect Donald Trump has announced former Senator Kelly Loeffler as his choice to lead the Small Business Administration (SBA). Loeffler, known for her business background and conservative stance, is expected to advocate for policies that support small businesses, including deregulation and access to capital. Her appointment signals the administration’s commitment to fostering a favorable environment for small business growth and entrepreneurship.
Read More: CNN
“GOP Blasts Small Business Administration Over $100M Taxpayer-Funded Boondoggle”
The Small Business Administration (SBA) is facing criticism from Republican lawmakers regarding its oversight of the Community Navigation Program, which was funded through the American Rescue Plan. An inspector general report highlighted concerns over the program’s effectiveness and the allocation of $100 million in taxpayer funds. Lawmakers are calling for increased transparency and accountability within the SBA to ensure that funds are appropriately utilized to support small businesses.
Read More: Fox Business
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