Small Businesses Demand Clarity from White House Wannabes

Small business owners are getting frustrated at the lack of clear position taken by both presidential candidates on issues that concern them most.  Proprietors, who are normally reliable Republican supporters, could still support the Party come Election Day according to John Langdon of Langdon Ford Financial.

Small Business Owners Comprise a Huge Voting Bloc

The current discontent however could matter a lot as small business owners comprise a huge chunk of the voting population.  The Small Business Administration put their numbers at 23 million while the National Federation of Independent Business places the number of small proprietors in the near 16 million.

The numbers show that small business owners comprise 15 percent of voters which is a significant block that could tip the balance of a close presidential contest.  Shifting allegiances could count a lot during balloting.

Credit Lines as Number One Concern

According to George Cloutier, CEO of American Management Services, the single issue that small business owners want to get clarified is not health care, taxes or inflation, but the bank’s increasing restrictions in extending lines of credit.

Cloutier, a Democrat said that small owners are having hard time finding business loans.  Cloutier added that small business owners are fettered by small cash positions and small net worth.

Cloutier also said that small business owners could be saved from the stinginess of banks through the creation of a loan program with multi-billion dollar allocation offering low interest.  He also stressed that the government could increase the loan guarantees being extended by the Small Business Administration.

Big Businesses Got Billions While Small Owners Got Nothing

Cloutier pointedly emphasized why big companies such as Bear Stearns, Fannie Mae and Freddie Mac, and the auto industry could get government guarantees amounting to $50 billion while small businesses are left in the cold.  

Mr. Cloutier said that small businesses are major economic pillars as they employ 160 million people.  Cloutier also added that small businesses spur 60 percent in job creation alone.

A recent study on small business owners’ perception showed that 63 percent believed the federal government is doing nothing to help their plight.  80 percent of the respondents said that they do not have a clear idea about the programs of Senators Barrack Obama and John McCain that could benefit them.

The political divide however heavily favors Republican nominee John McCain as 38 percent of small business owners said they would vote for him while only 21 percent roots for Obama.   In a similar survey of SurePayroll, 64 percent of its clients will likely go for the Republican candidate.

The numbers however are not indicators of open endorsement for McCain as more small business owners are getting unhappy about the vagueness of the Republican program for them.