Small Business Owners Ready to Influence Future Elections

In the latest Goldman Sachs “10,000 Small Businesses Voices” report, it was revealed that small business owners are more politically engaged than ever before. Ninety-six percent of those surveyed said they will definitely or probably vote in November’s election. However, there is one area where small business owners feel they are being overlooked – the candidates’ failure to address their concerns.

According to the report, only 27 percent of small business owners are satisfied with how candidates have been addressing their issues, while 55 percent say they are dissatisfied. The top issues on their list include inflationary pressures (73 percent), small business tax policy (72 percent), regulatory burden (70 percent), and access to affordable capital (66 percent).

When it comes to financial pain points, higher labor costs, increasing commercial insurance costs, and rising rent were cited as the top concerns by respondents. Other issues include increased employee benefits and health insurance costs as well as higher costs of accessing capital.

Jessica Johnson-Cope, president of Johnson Security Bureau in The Bronx, N.Y., shared her insights on the challenges small business owners face: “Small business owners today are facing operating costs that are increasingly unaffordable. We want policymakers and candidates to focus on issues that improve the small business climate because small businesses are America’s future.”

By Sophia Gonzalez

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