FOR IMMEDIATE RELEASE
National survey of 1,500 small business owners in Small Business for America’s Future network finds 15% can only make it to the end of month, and 34% until the end of the year, without more federal relief; 52% say Congress’s priority should be economic relief, just 14% say Supreme Court nomination
Washington, D.C., Oct. 7, 2020—A national survey of small business owners finds Main Street entrepreneurs continue to be hit hard by the Covid-19 pandemic and 79% say Congress should prioritize passing an economic relief package and ensuring the November election’s integrity rather than approving a Supreme Court nominee—views that break sharply from President Trump’s decision Tuesday to end relief package negotiations in favor of Supreme Court vacancy hearings.
Additionally, the survey found 66% of small business owners said Congress passing an economic relief package is more important to the future of the country than approving a Supreme Court nominee.
“Calling off negotiations over economic relief shows a shocking disregard for the needs of the small business owners who create jobs and drive economic activity in all our communities,” said Candace Combs, owner of In-symmetry Spa in San Francisco. “This is a crisis of leadership. We cannot let small businesses bear the economic brunt of the turmoil in our country because our leaders choose political theater over the economy. A strong recovery will require a strong small business sector. It was small businesses—not big corporations—that led the country out of the Great Recession. With a long-term recovery plan dedicated to helping small businesses, they can lead the way out of the COVID-19 recession, too.”
The survey of small business owners in Small Business for America’s Future’s network, fielded from Oct. 2-5 with 1,511 respondents, found that 49% of small businesses won’t make it past the end of the year without further economic relief, shaping their views on national priorities. The survey found:
The pandemic continues to hurt small business owners
- 15% said their businesses can only survive through October without further federal relief
- 34% saying they can only make it to the end of the year
- 28% have considered closing their business permanently due to Covid-19
- 19% are facing the possibility of declaring bankruptcy due to Covid-19
Filling the vacant Supreme Court seat is their lowest priority
- 52% say that Congress’s priority should be passing a new economic relief package
- 27% said Congress should focus on election security
- Just 14% said the Supreme Court vacancy should be the top priority
A high level of interest in the upcoming election
- 98% of small business owners plan to vote
- 65% are concerned with the integrity of the presidential election
- 66% of those concerned about election integrity are worried an unclear result will create turmoil that would have negative consequences for the economy and small businesses
“It’s been nearly seven months since President Trump declared a national emergency due to the Covid-19 pandemic andMain Street small businesses are stretched to their financial limits. The president put party over Main Street today when he instructed Sen. Majority Leader Mitch McConnell to focus on the Supreme Court instead of a relief package. ” said Shaundell Newsome, Small Business for America’s Future Co-chair and owner of Sumnu Marketing in Las Vegas, Nev. “The economic consequences of this decision could be catastrophic. Nearly half of the small businesses surveyed said they won’t be able to make it past the end of the year without relief.”
Click here to view the full report and here to watch a video about Small Business for America’s Future.
To schedule an interview: Contact Conan Knoll, firstname.lastname@example.org, (831) 524-6764.
About Small Business for America’s Future
Small Business for America’s Future is a coalition of small business owners and leaders nationwide working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize Main Street by advancing a just and equitable economic framework that works for small business owners, their employees and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF.