Women voiced concerns about inflation, consumer spending and immigration, although not all felt the outcome – whether Harris or Trump – would have an immediate impact.
Small business owners often mention the economy when it comes to what’s at stake this November. A recent CNBC Survey Monkey Small Business Confidence Index, released in August, found that three out of five small business owners cite inflation and economic growth as the top issues in deciding who they will vote for in November.
How that translates at the polls remains to be seen. Do business owners see Vice President Kamala Harris or former President Donald Trump at better handling the most pressing economic issues for business owners? Turns out, the majority or 55% say they are unsatisfied with how either of the presidential candidates (and President Joe Biden, from earlier in the race) are addressing small business issues, according to a recent Goldman Sachs survey.
To glean more, The Story Exchange reached out to some of the female founders that they have recently featured in our 1,000 Stories Project — and discovered a few more concerns besides the economy, although inflation and consumer spending loomed large. Most business owners we contacted didn’t share which candidate they planned to support specifically, although some alluded to Trump’s anti-immigration policies and Harris’s pro-environment record, and voiced concerns over access to healthcare in underserved communities. And perhaps, most surprisingly, some founders said the upcoming election – as consequential as it seems, to many voters – likely won’t impact their niche businesses at all.
Here’s what they told us.
Responses are lightly edited for length and clarity.
Olya Schaefer, founder of The Athleticus Personal Training Studio
“I do not anticipate the election to impact my business at all.” While that might not be the case for all small businesses, “as a micro-gym, we will not see any tangible effect… we draw from a very small geographic area: just 5 or so miles radiating from our zip code. And, our focus is on athletic and active adults who want to train .. with a tailored program. I expect the stock market and real estate market to move, but to then correct,” but ultimately, “I don’t need to be worried about macroeconomics, I just need to provide a service that 50 people find exceptional.”
To read more, How Election 2024 Impacts Women Entrepreneurs
