On November 3, as usual, small business owners will bring one of the highest voter turnouts of any group, with 93 percent of owners expected to vote in this year’s presidential election. Your business probably shares a lot of the same concerns with other small business owners, especially in these pandemic-stressed times.
Politicians looking to win the small business vote should start by addressing the two largest barriers to entry entrepreneurs face when starting a business: access to capital and the implicit bias in capital decisions that limits opportunities for the New Majority of small business owners. In the last 10 years, New Majority entrepreneurs have represented more than 50% of new businesses started in this country, creating 4.7 million new jobs, yet these owners are largely excluded in funding. Only 5.5 percent of women-owned businesses in the U.S. access capital from banks or other financial institutions compared to 11.4