OnDeck Survey: Majority Of Small Businesses Received Tax Refund
Tuesday, July 2nd, 2019
A survey of small business owners issued today by OnDeck, the leader in online lending to small business, finds 65 percent of small businesses surveyed received a tax refund this year and 75 percent expressed satisfaction with the outcome of their 2018 tax returns.
Today's announcement by OnDeck follows an April 2019 survey by the online lender that asked small businesses how they expected to be impacted by the Federal Tax Cuts and Jobs Act changes. At that time, a majority of small business owners were optimistic that the federal tax changes would help them grow their business in 2019. Two months later, almost two-thirds of small businesses now report receiving tax refunds.
"Our survey of small businesses reveals that the majority of respondents received a refund and they are satisfied with how the recent tax changes helped them in 2018," said Andrea Gellert, Chief Revenue Officer, OnDeck. "Moving forward into an election year, OnDeck will continue to monitor the pulse of small businesses on the vital issue of tax changes and policy."