While small business owners employ almost half of the U.S. workforce, their concerns often go unheard in presidential debates. With a pivotal debate coming up, will that trend change? This is the question being raised by Goldman Sachs’ 10,000 Small Businesses Voices program. Their advocacy effort recently took center stage,…
While small business owners employ almost half of the U.S. workforce, their concerns often go unheard in presidential debates. With a pivotal debate coming up, will that trend change? This is the question being raised by Goldman Sachs’ 10,000 Small Businesses Voices program. Their advocacy effort recently took center stage, featuring a Times Square billboard urging ABC, the debate moderator, to ensure small businesses are included in the conversation.
Entrepreneurs, through this initiative, want to hear specific policies from the candidates that address the unique challenges they face. As small businesses employ a significant portion of the nation’s workforce, their voices deserve a prominent place in the debate.
In a memo to ABC News, the leadership of Goldman’s small business advocacy group outlined six major issues that Kamala Harris and Donald Trump should discuss to better serve entrepreneurs:
1. Business Growth
The top priority for small business owners is understanding how each candidate plans to support growth in the current economic climate. Specific policies that foster entrepreneurship and stimulate growth are highly sought after. In a promising move, Harris hinted at a $50,000 tax credit aimed at promoting new businesses ahead of the debate, a signal that their concerns might finally be addressed.
2. Capital Access
Access to affordable capital has long been a key struggle for entrepreneurs. Business owners are eager to learn how Trump and Harris plan to ease access to affordable loans and credit lines, which would allow them to thrive.
3. Child Care
The child care crisis is another issue that directly impacts small businesses. Past research indicates that lack of affordable child care stifles business growth.
Business owners are eager to hear what solutions the candidates will propose to increase access to affordable child care, especially in light of recent economic difficulties.
4. Inflation
With inflation remaining a major issue, business owners need reassurance that they can survive amidst rising costs. How Trump and Harris propose to alleviate the burden of high prices on goods and services will be crucial to their success. Entrepreneurs want clear strategies on how each candidate will stabilize the economy.
5. Labor Shortages
Another pressing issue for small businesses is the national labor shortage. Entrepreneurs want to know how the candidates will address workforce development and upskilling efforts to ensure businesses can continue to grow and meet the demands of their operations.
6. Artificial Intelligence (AI)
Lastly, AI is making waves in the business world, but small business owners worry about its impact on jobs. Both Trump and Harris are expected to outline their plans for AI adoption in a way that doesn’t leave small business voices behind. Entrepreneurs are particularly concerned with ensuring AI advances don’t lead to mass job displacement.
With Election Day fast approaching, the upcoming debate offers Trump and Harris the chance to clarify their plans for small businesses. As both candidates fight for momentum, their positions on these six core issues will be pivotal for entrepreneurs across the country.
By addressing the concerns of small business owners, the candidates can tap into a critical voting bloc that influences nearly half of the country’s workforce. Entrepreneurs are hopeful that this debate will bring meaningful discussion about how future policies will foster a thriving business environment.