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As primaries move along, the presidential picture is gradually being revealed. But until a winner is announced, the future for business leaders will remain unclear, according to a recent survey by the American Institute of CPAs.
In the survey, 64% of CEOs, CFOs, controllers and other senior level CPAs say the outcome of the election is a factor in their company's business planning, budgeting or forecasting for the next fiscal year. The survey results are based on 540 responses.
The election ranked as the fourth most important factor, behind potential changes in general economic conditions, an industry-specific outlook and interest rates/borrowing costs. It was tied in perceived impact with potential ramifications of the strong dollar.
Despite the impact on business planning, a majority of respondents say the election will not impact their company's hiring. Of the 540 responses, 81% say the election is either not a factor in staffing decisions or they plan to continue hiring at their current pace. Just 13% say they will defer hiring until after the election.
There were similar results for the election's impact on capital spending and business expansion: A solid majority, 80% say the election will not be a factor or they will continue spending at their current pace.
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