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Winning The Hearts (And Votes) Of Small Business Owners

By Bizbox

The New York Times runs a phenomenal article on the 16-23 million (depending on your estimate) people who own small businesses, who represent at least around 15% of registered voters. The article specifically explores what these voters would like to hear from the two presidential candidates, and what they say they haven't heard.

Of course, we could give you a basic outline of the two candidates' policies that are particularly relevant to small business owners. In fact--hey, look!--we did!

Still, according to the article, small business owners say that what they want most is specifics. A full 80 percent of small business owners polled in a Suffolk University study in July said they did not know either McCain or Obama's positions relevant to their livelihoods as small business owners. "Neither candidate has developed a comprehensive small-business policy to address issues such as health care, taxes and retirement affecting this important demographic," the executive director of the National Association for the Self-Employed told the Times. “Neither has spelled out exactly what he’ll do,” added one small business owner, a political independent.

Who will win over this sizable, vital consituency? The smart money would be, as it would be in any election year, on the Republican. Though far too diverse to constitute a solid voting bloc, small business owners tend to lean towards the Grand Old Party due to its perceived business-friendly stance on smaller government--lower taxes, fewer restrictions on trade, and the like. (On taxes, McCain would lower the capital gains rate while Obama would lower it only on businesses; McCain would lower everyone's income taxes, while Obama's would let the Bush tax cuts expire for the top 5% of money-makers. On trade, Obama has been more aggressive in questioning NAFTA and other trade deals.) It is no surprise that the July Suffolk poll showed a 38%-21% edge for Sen. John McCain.

Yet the topsy-turviness of this election year (which has already seen the extremely unusual spectacle of the candidate from the incumbent party trying to declare himself essentially not of that party) could give the Democrat, Sen. Barack Obama, an extraordinary opening. Famed pollster John Zogby, a Democrat, thinks these voters are up for grabs. For example, on health care--which some groups call the biggest issue for small business owners--McCain, who favors some refunds to employers, is ordinarily seen as the more business-friendly pick; yet there is an argument that Obama's fight for universal health care is actually good for business.

Furthermore (and as any reader of Michael Taylor's dispatches would know), many small business owners feel the government does not do enough for then--63% feel this way, in fact, according to the Suffolk poll. In a year in which the lack of credit may be these voters' public enemy #1, the Democrat--who, as always, vastly outpolls the Republican on the question of economic stewardship--has a major league opening.

In other words, stay tuned. The next eight weeks are going to be a wild ride.

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