The 2020 presidential election is shaping up to be more significant than any in recent memory. To solve this nation’s greatest challenges—from ending systemic racism to recovering from the pandemic—we are going to need bold policy ideas and strong coalitions.
One constituency that will be critical for success: small business owners and their workers.
Why should the presidential candidates care about small businesses? Because they’re much more than just an applause line in a stump speech. Small businesses and their workers are vital to our economy. Prior to COVID-19, there were 30 million small businesses in this country, 43% of them in low-income communities. They represented more than 90% of all businesses and employed almost half of America’s workforce. Without them, there is no path out of the recession. They are more important to the fabric of their communities than ever.
On a pragmatic level for candidates, given its size and reach across the country, the small business constituency can play a significant role in deciding the election. The bad news? Right now, they’re disenchanted with our political leadership. A survey released last week by Small Business for America’s Future found that 84% of respondents say our leaders favor big business.