Most company founders and CEOs spend very little time worrying about the U.S. political environment, according to a recent poll from JPMorgan Chase.
JPMorgan recently hosted more than 200 founders and CEOs from across the U.S. from mostly privately-held companies representing a spectrum of industries, including retail, finance, energy, healthcare, manufacturing, technology, real estate, and media and telecom. During the broader discussion about the current business climate, JPMorgan surveyed the executives on topics ranging from the economy to politics.
When asked how much time founders spend worrying about the political landscape, 34% responded that they spend 1-3 hours per week, while another 32% said they “tune it all out.”
When it comes to the economy, 70% of founders said they’re optimistic about for the next 12 months, while only 8% said they’re pessimistic.
“We’re seeing continued optimism for the U.S. economy across the board,” JPMorgan Chase senior economist Jim Glassman said in an emailed statement to Yahoo Finance. “Driven largely in part by regulatory and tax reform, business confidence levels continue to soar, and the economy is on steady ground.”
The main challenges that keep the executives up at night include finding and retaining talent, disruptive technologies, and competition.
“One of the key challenges for business leaders is finding and retaining talent. We’re operating in a tight labor market, with the unemployment rate at the lowest percentage since December 1969. And with the massive shift of baby boomers retiring, the workforce isn’t able to grow fast enough to bring on new talent. Most forecasters predict that the demand for qualified workers will remain strong. This should spur businesses to focus on investing in workforce development.”
When asked what they’d like D.C. to prioritize, 29% said infrastructure, 28% said workforce training and 18% said healthcare.
Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter.
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