Over the past several years, the end of the economic downturn and the slow but steady recovery has brought many small businesses across the country back onto more solid ground, financially speaking. But the fact is that while this is certainly not something most entrepreneurs are going to complain about, owners are always going to feel as though more could be done on the part of politicians to help them succeed in the future as well.
Fortunately for owners, this view is also shared by financial experts and lawmakers, because they recognize that small business in the U.S. is a major driver of the economy overall, according to a report from the Associated Press. With the presidential campaigns starting up, many candidates are already hitting the small business success message hard on the campaign trail; U.S. Sens. Ted Cruz of Texas and Rand Paul of Kentucky – both Republicans – and former U.S. Secretary of State, New York Senator, and First Lady Hillary Clinton – a Democrat – saying they will focus on encouraging small business in their own unique ways.
Why does this happen every four years?
For one thing, it is generally recognized that small businesses operate on thin margins and do not, in and of themselves, have a lot of bargaining power in Congress in comparison with their larger competitors, the report said. And with optimism among entrepreneurs on the rise, candidates talking directly to them about what they’re going to be able to do in, say, a Cruz presidency could resonate a lot better than it did when the country was in the throes of the recession.
But more cynically, it’s important to keep in mind that there are 28 million small businesses across the country, the report said. That’s a lot of voters in the form of both owners and employees, and talking directly to them is, in some ways, like talking directly to a voter bloc that may be unrivaled in size.
“It’s a brilliant strategy, anything you can do that gets the awareness of 28 million small business owners – you’re impacting 56 million potential voters,” Pat Dickson, a professor of entrepreneurship at Wake Forest University, told the news agency.
To this point, so early in the campaigning process, there’s really not a lot that candidates are saying about what, specifically, they would do to help small businesses, the report said. In addition, it might be wise for entrepreneurs to temper expectations about what’s going to be done. Despite campaign promises, it’s not easy to overwrite the U.S. tax code, even if the idea of helping small business has broad bipartisan support. Likewise, easing regulatory controls on any one industry, let alone the multitudes in which the various millions of small businesses nationwide operate, can be exceedingly difficult.
Therefore, owners who want to make sure they’re adequately prepared for a successful future might want to take matters into their own hands. By finding more affordable, comprehensive small business insurance coverage, including plans for liability insurance, they may be able to save thousands of dollars annually.