As the inauguration of a new president approaches, there are some things small business owners should look for. 

Jamar Cobb-Dennard with Indiana Business Advisors says the first 100 days of a new presidential administration can bring many changes for small business owners. Despite being familiar with President Trump, there are still many unknowns.  

Cobb-Dennard says it’s important to make careful choices to mitigate risk while taking advantage of opportunities a new administration presents. He recommends keeping a close eye on things like a surge in consumer confidence. 

Cobb-Dennard recommends not leaning too heavily on campaign promises, as federal government plans often change. When forecasting future business, it’s also important to monitor inflation and reports from the Federal Reserve.   

In addition, Cobb-Dennard recommends that business owners take the week between Christmas and New Year’s to focus on preparing their business’s internal workings. This includes ensuring that they have enough capital on hand and reviewing their spending choices.

Cobb-Dennard also tells business owners that now is a good time to bring in their CPA to prepare for tax season. Waiting until March or April could cause trouble.