Owners Trusted More than Congress, Corporate CEOs
Washington, D.C. (May 23, 2018) ̶ Americans find small businesses vital to day-to-day life and the economy and also prefer small business owners as elected officials over major CEOs, according to a survey released today by NFIB. The research, commissioned by NFIB and conducted by Morning Consult, also showed that while Americans value the importance of small business, many recognize a variety of barriers to starting one.
“When Americans go to work or buy services, food, and household goods, they are often entering a small business. This survey quantifies how deeply ingrained this sector is across the country,” said NFIB President and CEO Juanita Duggan. “Small business owners know the community, and the community knows them. Americans clearly want elected officials to listen to and learn from small businesses for the betterment of the community.”
Small businesses are part of the fabric of Americans’ lives, with one in four (24 percent) working at one and nearly half (49 percent) having a family member or friend employed by a small business. Seventy-two percent of those surveyed purchase goods and services from small businesses often. On an overwhelmingly bipartisan basis, Republicans (92 percent) and Democrats (90 percent) hold a positive view of small businesses. Overall, 89 percent report a positive view compared with 44 percent who share the same view of large corporations.
Although Americans had near-universal praise for small businesses, recognition of the risks and challenges associated with starting one is significant. Seventy-eight percent of Americans believe it would be difficult for someone like them to start a successful small business, citing economic uncertainty (41 percent) and lack of willingness to take a risk (25 percent) as primary reasons.
When it comes to understanding local needs, 82 percent say small business owners have a strong understanding of the local community. Regarding preference in leadership, Americans trust small business owners as elected officials (59 percent) and prefer them by a wide margin over a CEO of a large corporation (four percent) or a union representative (nine percent).
With more than nine in ten stating that small businesses are important for the local community, it comes as no surprise that 83 percent of Americans believe small business concerns should be a priority for lawmakers.
Morning Consult conducted a national survey of 2,200 adults from April 30th through May 2nd, 2018. Results from the full survey have a margin of error of ±2%. To review more from the survey, please follow this link.
