The concerns of small businesses in lieu of the 2020 elections are almost the same but their preferred candidates are not, according to a national study.
Findings released by Lendio suggest that small businesses are concerned with the same issues approaching the 2020 elections. The study shows that regardless of their political views, small business owners are united in terms of the issues surrounding their ability to do business.
The survey commissioned by Lendio involved 531 verified small business owners in the US. They were asked about politics and policies in the country that they deem critical to their operations as small businesses.
Based on the results, 82 percent of small businesses are optimistic about their businesses. In terms of party affiliation, 74% of liberals, 82% of independents and 89% of conservative business owners report feeling positive about the future.
There was a consistent or increased income in 2019, according to the majority of all conservative, liberal and independent business owners. Meanwhile, four percent of business owners claim that the US will experience a recession in 2020.
The top voting issues for small business owners are taxes and keeping consumer disposable income high. Moreover, liberal and conservative small business owners agree on supporting candidates that will best keep consumer disposable income high.
Divided on candidates
However, in terms of candidates, small business owners have different opinions.
Forty-four percent of small business owners will support President Donald Trump’s re-election this year. Forty-three percent of the participants believe his re-election could help their business, but 42% said it would not.
For the liberals, 27% of small business owners plan to support Michael Bloomberg and 22% look forward to voting for Bernie Sanders.
“While party preferences will always remain, it’s no surprise that small business owners find alignment on the things that impact their ability to do business,” said Brock Blake, chief executive officer and founder of Lendio.
“With steady, if not increasing revenues, business owners head into this election cycle optimistic and united on the need for economic policies that benefit them. As small businesses continue to thrive, so should the American economy.”
