A recent survey by Goldman Sachs 10,000 Small Businesses Voices found that small business owners are more undecided about the upcoming election compared to the general public. The survey included 1,259 small business owners from various states and territories in the U.S. Despite this, the vast majority of small business owners are planning to vote in November, with 96% saying they will definitely or probably vote.
However, 20% of small business owners are still undecided on who they plan to vote for president, which is higher than the general public’s 12% undecided rate. According to Jessica Johnson-Cope, President of Johnson Security Bureau in The Bronx, New York, this highlights the need for policymakers and candidates to address the concerns of small businesses and improve the small business climate.
The survey also found that 55% of small business owners feel that presidential candidates are not addressing important issues that concern them, such as inflation, small business tax policy, and the regulatory burden on small businesses. Small business owners across the country are still feeling the impact of inflation on their businesses, with 71% reporting increased inflationary pressures and 49% stating they have had to raise prices on their goods or services in the past three months. As campaign season begins, small business owners are looking for candidates to address these critical issues that are affecting their businesses and the overall economic landscape.
