Navigating Change: A Guide to Business Stability in Shifting Political Landscapes

Whether you’re celebrating or disappointed by the recent election results, one thing is certain: changes are on the horizon that will impact your business. In times like these, it’s essential to look beyond emotions and dig into data and strategy. For all small business owners, now is the time to review, prepare, and take action so that you can adapt smoothly to any policy shifts that may come your way. Here are some practical steps you can take to keep your business resilient.

1. Expect Tax Adjustments – Prepare Now

Under a Republican-led administration, there’s a good chance that taxes will decrease, offering some relief for small businesses. But with that relief may come a rise in the cost of some goods. Reach out to your suppliers and ask for bulk pricing to lock in lower rates if possible.

If you haven’t yet explored different sources for supplies, this is your cue. Find vendors who can provide what you need at a good price—don’t wait until prices jump to realize that you’re spending more than necessary. Be proactive: securing bulk pricing and lower rates now could make a difference to your bottom line in the coming months.

2. Assess and Negotiate All Contracts and Services

It’s also a smart time to revisit all the costs of your business. Now is the time to research and plan your budget. From services and supplies to subscriptions and vendors, examine every line item. This is where you need to “tighten your belt.” Analyze the cost of each service or product, including credit card processing fees, subscriptions, and any recurring expenses that add up over time. 

Then, take action. Call your providers and negotiate. You’d be surprised at what can happen when you simply ask for a better rate or more favorable terms. Don’t settle for standard interest rates on business loans if there’s room to negotiate. Nothing beats a try, but a fail—don’t be afraid to ask. Every dollar saved is a dollar reinvested back into your business.

3. Plan with a Strategic Eye

In a changing political environment, we can’t assume that old connections and past opportunities will continue to pay off. Take a close look at your business relationships and any contracts up for renewal. Who are your biggest clients or partners? What industries are they in, and how will these policy changes affect them? Strengthen those bonds by checking in with clients, and think strategically about diversifying your client base to mitigate risks. Be strategic with every opportunity and look at each relationship as a valuable prospect. In times of change, the most successful businesses are those that adapt and actively pursue new paths to growth.

4. Take Advantage of Grants and Funding While They’re Available

If your business qualifies for grants or funding—particularly those aimed at women-owned businesses—it’s wise to tap into these resources now. Funding for women and minority-owned businesses may become more limited, so it’s essential to seize the opportunities available today. Check out the Her Corner portal at hercorner.org for the latest funding resources, grants, and guidance available for women-owned businesses.

Securing extra funds now could help you buffer against future uncertainties, so make sure you’re informed and taking full advantage of any opportunities available to you.

5. Prioritize Self-Care in Times of Change

In times of adjustment and uncertainty, leaders like you need to prioritize self-care. Your business is only as strong as the person running it. This isn’t a time to wear yourself out by trying to do everything solo. Whether it’s stepping away for a quiet afternoon, connecting with a mentor, or finding support in your community, make self-care part of your routine.

Stress can cloud judgment and slow down progress, so take the time to invest in yourself, just as you would in your business. A clear, rested mind makes stronger, wiser decisions. 

6. Don’t Be Afraid to Seek Help

Finally, know that you don’t have to navigate this alone. The challenges of running a business can feel especially intense during times of political and economic change, but there are resources and people ready to help. Investing in coaching or joining a peer group can provide you with fresh ideas, accountability, and insight that can make all the difference. 

Visit Her Corner at hercorner.org to learn about coaching, peer groups, and resources designed for women business owners like you. Asking for help is a sign of strength—take advantage of the resources available to you.

Change can be challenging, but it can also be an opportunity to sharpen your focus, strengthen your business, and find new paths to growth. By taking thoughtful, proactive steps now, you can not only weather the changes ahead but emerge stronger. Remember: lean into the data, use the resources available to you, and build on the strengths you already possess. As a community, we’ll face these shifts together, ready for whatever comes next. Explore more resources at hercorner.org and let’s continue this journey toward success, together. You got this and we got you! 

~Naomi