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, we reached out to some of the female founders we 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.
Jillian Krenk, founder of budgeting app Money Wellth
“The election seems to be making leadership focus on winning the election and less on supporting policies to help reduce the strain the American people face from years of high inflation.” She continues, “In one aspect I know in my mind it’s great for my business that more people are using budgeting apps. However, the reason people are turning to budgeting apps is because they are struggling more than ever and seeing friends, neighbors, and fellow people struggle in such high numbers is hard.” No matter who wins, “it will be a painful amount of time before people start seeing any relief from high inflation.” From a business perspective, she hopes that the high tax burden will be addressed at the federal level. “Taxation for small businesses is at the forefront of my concern.”
Silva Moradi, provider of healthcare testing services via Nobility Health and Avalon LA
“I’m keeping an eye on how the 2024 Presidential Election might affect healthcare and the economy, as these will impact our work in serving underserved communities.” No matter who wins, “we know that changes in policy could either help or challenge our efforts, but we’ll stay focused on finding ways to support our community. With current inflation rates, I’m truly worried about our underserved population.”
Ashley Lands, co-founder of travel business Provincial Leisure
“As the cost of everyday essentials—groceries, utilities, and even seemingly trivial subscriptions—edges higher, it inevitably tightens the budgets families reserve for leisure and exploration. Looking ahead, the revival of U.S. travel budgets hinges on one pivotal factor: the next administration’s commitment to addressing inflation with urgency. Until household expenses stabilize, the chances of a meaningful rebound in discretionary travel spending remain slim.”
Theresa Crichlow of honey business BeeFavored
“If environmental policies shift, especially under a candidate more focused on sustainability, there may be increased support for initiatives like ours, promoting pollinator health and urban beekeeping. However, changes in economic or immigration policies could impact our community programs, potentially affecting our workforce and the communities we serve. Consumer behavior might also shift depending on the election’s outcome, influencing demand for eco-friendly and sustainable products like ours. We’re closely monitoring the political landscape to adapt and continue our mission of promoting sustainability and community empowerment.”
Olya Schaefer, founder of gym The Athleticus
“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.”
Kanika Khurana, founder of interior design firm Kanika Design
“As a female small business owner, it’s time that I would like to witness a woman to be the president of the United States, who talks about women taking ownership of their reproductive rights and equality in society. My business is based in the San Francisco Bay Area, where we primarily serve affluent clients. In the short term, I don’t foresee the election outcome having a direct impact on my business. However, if the elected administration’s economic policies trigger a recession, it could negatively affect consumer spending, which would, in turn, impact our interior design business.”