What matters to small businesses on Election Day

Core Insights - The survey conducted by GoDaddy highlights that small business owners prioritize inflation, tax reform, and cost of living as critical issues ahead of the upcoming elections [1][2]. Group 1: Small Business Concerns - 93% of small business owners believe that addressing wage and cost inflation should be a top priority for the next administration [2]. - Nearly 70% expect above-average inflation to persist for at least another year, with 34% citing increases in operating costs as their most significant economic challenge [2]. - 50% of respondents rank tax reform as a top policy priority, while only 24% feel current federal tax incentives effectively promote growth and investment [2]. - 32% of small business owners feel that rising housing costs hinder their ability to achieve "The American Dream," with a higher percentage of women (36%) expressing this concern compared to men (27%) [2]. Group 2: Voting Behavior and Election Impact - 18% of small business owners report that their voting behavior in federal elections has changed since they became business owners [3]. - 51% anticipate that the upcoming election will have a moderate to major impact on their businesses, while 49% predict a minor or no impact [3]. - 38% believe that federal government leadership will positively impact their business over the next four years, whereas only 16% expect a negative impact [3]. Group 3: Business Outlook - Despite economic uncertainty, 77% of small business owners aim to grow their businesses in the next 12 months [4]. - Only 27% expect an increase in revenue over the next six months, while 41% anticipate no change [4]. - The importance of small businesses to the economy and communities is emphasized, with a call for elected officials to consider their concerns in policy-making [4].