Small Business Owners Undecided on Presidential Candidates: Survey Shows

Small Business Owners Undecided on Presidential Candidates, Survey Shows

As the 2024 Presidential Election approaches, small business owners are emerging as a crucial voting bloc that could sway the outcome. However, a recent survey conducted by Goldman Sachs’s 10,000 Small Businesses Voices reveals that a significant portion of small business owners are still undecided on who to support.

According to the survey, a staggering 96% of small business owners are likely to vote in the upcoming election. However, 20% of them have not yet determined which candidate they will back, indicating a level of uncertainty that could have a significant impact on the election results.

One of the key reasons for this indecision is the dissatisfaction among small business owners with how candidates have addressed issues that directly affect them. The survey found that 55% of owners are dissatisfied with the focus on small business issues, with 71% reporting increased inflationary pressures in their businesses.

Rising costs in various areas, such as labor, goods, employee benefits, and access to capital, are also posing challenges for small business owners. Jessica Johnson-Cope, CEO & president of Johnson Security Bureau, emphasized the need for policymakers and candidates to prioritize issues that improve the small business climate.

Interestingly, the survey also highlighted the views of Black voters, with 55% expressing greater certainty about President Joe Biden than former President Donald Trump when it comes to having the necessary attributes for re-election. However, nearly half of Black voters indicated that they would replace both candidates if given the opportunity.

As the campaign season heats up, small business owners and voters alike are looking for candidates who understand and address their concerns. The decisions made by these entrepreneurs could have a significant impact on the outcome of the election, making them a key demographic to watch in the coming months.