Civil rights attorney Leo Terrell and Democratic consultant Julian Epstein discuss the latest polls as some show Trump ahead in key states.
As the 2024 election cycle approaches, several recent studies point to the priorities that will be on the minds of business leaders as they vote.
On Tuesday, the US Chamber of Commerce and MetLife released the results of their third quarter Small Business Index survey, in which 71% of small business owners reported that they were more interested in this year’s election compared to 2020, and 42% said they were “more very much”. “You are interested in this cycle.
“Vote Here” signs outside a polling station in East Lansing, Michigan, US, Thursday, Aug. 1, 2024. The latest Small Business Index report from the US Chamber of Commerce found small business owners reporting high interest in this year’s nominees. (Emily Elconin/Bloomberg via Getty Images/Getty Images)
Respondents were very clear about what issues are on their minds, as 78% of small business owners say the economy and inflation should be top priorities for the next president and Congress.
The report noted that the latest results show a 21% jump in respondents citing the economy as their first or second top concern from the same quarter in 2020.
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Tom Sullivan, vice president of small business policy at the US Chamber, said business inflation has topped the list of small business concerns in the Small Business Index for nearly three years, and offered his explanation for why small business owners are showing high interest. in this year’s election.
The US Chamber of Commerce seal is shown during a restoration at the headquarters in Washington, DC, US, Tuesday, March 17, 2020. (Photographer: Andrew Harrer/Bloomberg via Getty Images/Getty Images)
“Small business owners feel that their constant headache of high prices and high costs has not been resolved,” Sullivan told FOX Business. “They are frustrated because of the collusion of parties, despite insisting that the candidates are focused on the economy, and that has increased the level of small businessmen in this election.”
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The chief financial officers of America’s largest companies with revenues of $1 billion or more expressed similar sentiments in another survey released last week.
The economy is a top issue for small business owners and can make or break votes in key swing states like Arizona.
Deloitte’s CFO Signals survey for the fourth quarter showed the top external risk cited by respondents was inflation, at 57%, followed by the economy as a whole, at 54%.
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Steve Gallucci, Americas and Global leader of Deloitte’s CFO program, told FOX Business that the findings shouldn’t come as a surprise.
“Macroeconomic challenges continue to be front and center for CFOs,” Gallucci said. “For the past few years CFOs have been working in an era of persistent inflation and high interest rates.”