As the 2016 presidential campaign heats up, voting blocs critical for candidates on the quest for the White House don’t just include those representative of political parties or ethnicities.
Small businesses also play a critical role in determining winners and losers in political campaigns of all sizes. In a national election, this particular demographic can easily make or break a candidate’s run due to its sheer size.
With an estimated 28 million small businesses across the country, this demographic ultimately represents millions more people courtesy of ownership groups and employees.
Candidates who have already stepped up to the plate for 2016’s run recognize this and are taking steps to reach out to this segment of the population to ensure votes come Election Day.
Candidates, however, are being reminded that while 28 million small businesses exist in the country, there’s a much larger segment of the “small business” population that performs solo, freelance work.
This group, representing some 53 million people, is often overlooked by candidates, according to Fast Company.
Its size, however, makes it especially important to candidates as they work to send home messages that resonate with the small business community.
Issues that Matter
Candidates who want to capitalize on the small business vote in the 2016 need to recognize that there isn’t a single issue of importance to the demographic.
Small business owners cite a diversity of concerns, U.S. News & World Report notes, making it important for candidates to consider a broad agenda in regard to bolstering small business.
Some of the issues that are of concern include:
- Helping small banks compete once more – The Dodd-Frank Act, adopted following the 2008 banking crisis, was an important undertaking to prevent future bank failures. The law, however, has made it difficult for many community banks, those often more likely to back small business, to survive, thrive and compete. Many small business owners would like to see some of the burdens removed from these localized financial institutions.
- Government contracts – The federal government has set goals for its agencies to award contracts to small businesses, including those owned by women and those established in economically disadvantaged areas. Despite those goals, the government has come up short on attainment. This is something many small business owners seeking agency contracts would like to see candidates remedy.
- Regulation release – The National Small Business Association would like to see an easing up on regulations that make it difficult for small businesses to function.
- Taxes – Many small business owners would like to see their taxes lowered and current tax breaks made permanent. Newsday points out, however, that achieving this goal might be easier said than done. Doing so would require an overhaul of tax laws and Congressional approval.
- More services for freelancers – Solo businesses functioning the realm of the freelance world represent an estimated 53 million voting-age people, Fast Company points out. These independent workers would like to see such improvements as an extension of unemployment benefits to them, programs developed to assist and support them and greater access to capital to help them take risks necessary to grow their businesses.
While candidates are already wooing small business owners, many publications warn that so far most promises offered have been more sound bite material than solid plans.
Wining over this rather large voting bloc, however, remains an important plank in most candidates’ platforms even though small businesses are on firmer ground now than they were back in 2012.
“Presidential candidates aren’t letting go of an issue they think will get them votes,” U.S. News & World Report points out.
After all, with 28 million small businesses in the country and millions more freelancers, why would they?
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