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5 Ways A Trump Administration Could Impact Your Business

Now that Donald Trump has been elected as the next president, after his "Yuugeee Victory" over Hillary Clinton, organizations are looking toward the future to see how their business might be impacted under the new administration, which promises to be drastically different than that of President Obama’s.

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Asif Ahsan Khan / Via blog.workmarket.com

While there is a lot of uncertainty surrounding the incoming president’s policies, here is a list of 5 specific ways a Trump presidency may affect your business in the coming months and years:

Trade Changes

Global Trade Magazine / Via globaltrademag.com

Trump has vowed to upend current U.S. trade policies and even said he may end U.S. participation in some trade deals like the North American Free Trade Agreement (NAFTA). If Trump cuts off or limits U.S. trade across the world, it could have vast repercussions for global markets, not all of them necessarily good. It could also affect the prices of goods and services bought from and sold overseas, changes that could affect service providers’ bottom line depending on their purchasing habits. Until Trump makes definite moves, however, uncertainty will remain about how the presidency will affect the global business and economic climate, which means companies should move cautiously in the coming year until they know more.

Net Neutrality

IPdigIT / Via ipdigit.eu

Net neutrality, a set of regulations that basically allow pretty much anyone with an Internet connection to have equal access to online content, could be threatened under the Trump administration. While the Obama administration favored net neutrality, Trump has called it a “top down power grab” and an “attack on the Internet” by Obama, making it clear he is not supportive of the measures.

However, similar to his trade policies, it’s still unclear if Trump will create legislation to repeal net neutrality and make Internet access more restrictive. If he does, businesses may find themselves playing by a different set of rules when it comes to Internet access. This scenario could provide new opportunity for creating solutions to adhere to these rules or to help customers navigate any new laws governing carrier transport.

Cybersecurity

Donald J. Trump / Via donaldjtrump.com

Trump outlined on his campaign website that cybersecurity will be a priority, promising that once in office he will “order an immediate review of all U.S. cyber defenses and vulnerabilities, including critical infrastructure, by a Cyber Review Team of individuals from the military, law enforcement, and the private sector.”

This new focus on cybersecurity could mean service providers in the security space are called upon to help the president evaluate the U.S. government’s position. It also may mean new legislation that requires tech companies to double down on security and make new investments or provide new services in to shore up U.S. cybersecurity defenses.

U.S. Business and Job Market

Business Insider / Via businessinsider.de

Trump is well known for his longtime career in business, and this background along with campaign promises to bring offshore jobs back to the United States and create more jobs at home has the potential to be good for U.S. companies across the board. As the tech industry currently employs about 12 percent of the U.S. workforce, this could create a positive economic climate for service providers. One thing businesses should consider is Trump’s tax plan, which favors lowering the corporate tax rate from 35 percent to 15 percent. This could benefit companies depending on their size, but also could have a negative impact on smaller firms if they end up taking more of the tax burden.

H-1B Visas

Times Internet / Via tnn.com

Solution providers may have to search primarily within the United States for top technology talent under a Trump administration, as the president-elect has suggested he will limit or end the H-1B visa program that many technology companies use to give employment to foreign workers. While Trump has flip flopped on the issue, he said at one point during his campaign that while he himself uses H-1B visas within his own businesses, they should be discontinued. Later he proposed raising wages for H-1B visa holders while at the same time favoring U.S. workers over foreign ones. Whether Trump makes good on his plans remains to be seen, but ending or changing the program could significantly affect the hiring of workers going forward for companies in the technology field.

How Much Do You Know About Donald Trump?

Fox News

Did you know that Trump attended the Wharton Business School at the prestigious University of Pennsylvania while also working for his father’s real estate company? In 1971 Donald took control of Elizabeth Trump & Son, and renamed it “The Trump Organization.” Today it employs over 20,000 workers, and while it’s hard to pin down exactly how much the conglomerate is worth, Donald owns 100 percent of shares and is said to be personally worth over $4 billion dollars. Last month, Donald Trump emerged as the most bombastic candidate the country has ever seen and the new President of the United States of America. While we’re all familiar with his proclivity for Twitter attacks and charged rhetoric, many might agree or thought voters could use a bit of info on Donald Trump’s background. Considering resumes, this handy little infographic below can give for all your Trump bio needs.

What Trump and a Republican Congress Will Mean for the On-Demand Economy? Well for starters, Did You Know Donald Trump is to make $1 as United States president?

Statista / Via forbes.com

Would you forego a $400,000 annual salary? US president-elect Donald Trump has announced he will as he takes the helm at the White House in January next year. Trump isn’t the first US president to take the symbolic gesture of foregoing his salary. Herbert Hoover and John F Kennedy are two other notable examples of presidents who gave up their annual salary and donated them to charity.

Well, I’ve never commented on this, but the answer is no. I think I have to by law take $1, so I’ll take $1 a year,” the New Yorker said, during an interview to the CBS’s 60 minutes.

Away from politics, Mark Zuckerberg of Facebook and Google’s Sergey Brin and Larry Page are examples of billionaire tech CEOs on a $1 salary. While Trump has refused to take his salary as president, let’s take a look at how his presidential pay will compare to other world leaders:

# Current US President Barack Obama earns $400,000 every year, a high salary compared to other heads of state around the world.

# Just north of the US, Justin Trudeau earns exactly double the salary of a typical Canadian MP, taking home $260,000 every year.

# German Chancellor Angela Merkel is also paid well by international standards; she has an annual wage of about $234,000.

So how can businesses give back to this post-election country?

Asif Ahsan Khan/Fox News

This election has tested the separation between business and politics. Business leaders (including prominent tech CEOs and Atlantic Monthly) have been speaking out strongly against Trump for months. But now the election is over, America is reeling, and everyone is trying to figure out what this change of power means for us individually and our companies and organizations collectively.

Whether it means wearing safety pins, organizing group runs, or sharing meals once a week, give space for your co-workers to process the election outcomes together. In addition to donating profits, your company can also give the gift of manpower and time. Organize group volunteer days or give Volunteer Time Off as part of your benefits package. Again, focusing on organizations that are hurting right now when you offer these benefits and suggest a few local organizations that may need more love. Keep the conversation going, in a positive way, about how we can pull together as a nation, community, and office. This could mean taking a look at the values or maxims your company is based on or discussing how better align with those values as a company. And, when in doubt, a few words of encouragement from leadership can go a long way to boost morale.

In Conclusion...

Asif Ahsan Khan / CNBC

Businesses can bring together their employees and make an impact on our community. The power is our hands to make the world a better place. Make an impact, Let Up!

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