However, Michael Bloomberg is the only
Democratic candidate favored by more small business owners than
President Donald Trump in the general election
Sixty percent approve of the job that Donald
Trump is doing as president
According to a survey conducted by Square and global analytics
firm, Gallup, American small business owners are closely following
the 2020 Presidential election and overwhelmingly plan to vote in
November. With 60% paying “a lot of attention” and 30% paying “some
attention,” this key group of voters, which account for more than
30 million businesses across the country, is more than highly
engaged: 97% say they will likely cast a vote in the 2020
Presidential election.
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General Election Candidate Preference
Among Small Business Owners (Square/Gallup Survey)
Even though small business owners tilt more Republican (40%)
than Democratic (33%) or Independent (26%), they are closely
divided in whom they would support in the general election. By
comparison, U.S. adults nationwide are less likely to identify as
Republicans, according to Gallup.
Democratic Primary Candidate Preference
Joe Biden is the top choice for 22% of respondents who plan to
vote in the upcoming Democratic primaries, followed by Michael
Bloomberg, Senator Bernie Sanders, and Senator Elizabeth Warren.
Thirteen percent of small business owners who plan to vote remain
undecided regarding their Democratic primary selection. Full
results below:
Democratic Candidate
Primary Preference
Joe Biden
22%
Michael Bloomberg
17%
Bernie Sanders
14%
Elizabeth Warren
13%
Andrew Yang
8%
Pete Buttigieg
7%
Amy Klobuchar
6%
Undecided
13%
General Election Candidate Preference
Sixty percent of small business owners surveyed from January 15
to the 24, approve of the job President Trump is doing in office,
and 52% say that if he wins the general election in November, their
business will be better off. Conversely, 41% say the same for the
Democratic nominee.
Small business owners would vote for President Trump over six of
the seven top Democratic candidates. Only Mr. Bloomberg edges out
President Trump. In a hypothetical head-to-head match-up between
the two candidates, 52% of small business owners say they would
support Mr. Bloomberg, and 48% would back President Trump.
Democratic candidate Vice President Joe Biden ties with President
Trump at 50%.
Here is a breakout of the general election head-to
head-vote:
Head to Head
Democratic Candidate
Donald Trump
Michael Bloomberg vs. Donald
Trump
52%
48%
Joe Biden vs. Donald Trump
50%
50%
Pete Buttigieg vs. Donald
Trump
49%
51%
Amy Klobachar vs. Donald
Trump
49%
51%
Andrew Yang vs. Donald Trump
49%
51%
Elizabeth Warren vs. Donald
Trump
48%
52%
Bernie Sanders vs. Donald
Trump
48%
52%
Among Independent voters, Mr. Bloomberg holds an even wider
margin of 57% to 43%. Independent voters also support Andrew Yang
over President Trump 53% to 47%, and Mayor Pete Buttigieg narrowly
beats President Trump 51% to 49%.
Economic Conditions
When asked about the state of the economy, 77% of small business
owners say current economic conditions in the U.S. are good,
however 69% say it is likely that the nation will face an economic
recession sometime in the next 18 months. One-third (33%), say U.S.
trade tariffs have mostly hurt their business in the last three
years, 40% say they have had no effect and 27% say they have
helped.
Key Election Issues: Taxes, Government Regulations, and
Healthcare
Among six key election issues, 32% of small business owners say
taxes present the greatest challenge to their business, while 21%
say government regulations, and 20% say healthcare. Seven in 10
small business owners say the cost of healthcare has impacted their
ability to hire or retain employees, and 69% say their business
benefited from the increased small business deduction that resulted
from the 2017 tax reform law.
Methodology
Results for this poll are based on online surveys conducted by
Gallup on Jan. 15-24, 2020, with a sample of 1,234 small business
owners, aged 18 and older, living in all 50 U.S. states and the
District of Columbia. Respondents were interviewed via web in
partnership with Dynata. All respondents own a small business with
annual revenue between $50,000 and $25,000,000. The national sample
was weighted by revenue to ensure the sample was reflective of
respondents across the revenue range.
About Square
Square, Inc. (NYSE: SQ) revolutionized payments in 2009 with
Square Reader, making it possible for anyone to accept card
payments using a smartphone or tablet. Today, we build tools to
empower businesses and individuals to participate in the economy.
Sellers use Square to reach buyers online and in-person, manage
their business, and access financing. And individuals use Cash App
to spend, send, store, and invest money. Square has offices in the
United States, Canada, Japan, Australia, Ireland, and the UK.
About Gallup
For more than 80 years, Gallup has been a recognized leader in
the measurement and analysis of people’s attitudes, opinions and
behavior. While best known for the Gallup Poll, founded in 1935,
Gallup’s current activities consist largely of providing marketing
and management research, advisory services and education to the
world’s largest corporations and institutions.
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Media contact: press@squareup.com
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