As the presidential election approaches, small business owners will want to monitor changes in Washington, D.C.  

Chantell Preston, the CEO of Preston Partners, a healthcare business in Texas, says the upcoming election will present questions about economic instability, trade, and more. 

Preston says everything from government contracts to regulatory frameworks will be up for negotiation with a new presidential administration next year. She wants small business owners to examine any changes that may impact their industry.  

“All industries will be impacted,” Preston says. Some industries, such as companies that deal with the global supply chain, will feel a larger impact than others.   

When it comes to dealing with changes, Preston says planning is the first key. A proper plan will make it easier for your business to pivot. She says staying agile and flexible is crucial. She also warns business owners to keep investors, stakeholders, and employees in the loop when changes happen. 

Preston also advises businesses to have up to 18 months of capital, if possible. “There’s always risk in being an entrepreneur.”