Small Business Voice Sentiment on Government and Economy - The Results Might Surprise You

In a recent survey conducted by the National Write Your Congressman (NWYC), a non-partisan group focused on amplifying the voices of small business owners in government, surprising insights have emerged regarding the sentiment of small business owners towards Congress and the current economic landscape.

Trust in Congress at a High

Despite a July Gallup poll indicating that 79% of Americans disapprove of Congress, the NWYC Q2 2024 Index tells a different story for small business owners. Among the 1,011 respondents, the survey revealed the highest levels of trust, satisfaction, and hope in Congress since 2020. This unexpected trend suggests that small business owners may feel more connected or represented by their lawmakers than the general populace.

Economic Concerns Loom Large

However, the survey also highlighted significant concerns about the economy. Randy Ford, president and COO of NWYC, noted that small business owners are anxious about the economic direction and potential impacts of the upcoming election results on their businesses. The survey, conducted before President Joe Biden announced he would not seek re-election, found that 67% of business owners fear the U.S. economy is heading in the wrong direction.

Business Performance and Key Issues

The survey revealed mixed performance among small businesses in Q2 2024:

• 51% reported their business remained flat.
• 31% experienced a decline.
• 19% saw growth.

Small business owners identified several critical topics they want political candidates to address, including immigration, inflation, taxes, the debt ceiling and government spending, and regulations. These issues reflect the broader challenges faced by the sector, with inflation, taxes, economic uncertainty, regulations, and high interest rates being the top concerns.