Justworks Survey: Next-Generation Entrepreneurs Feel They Don't Have a Voice in US Presidential Election
Survey highlights startups' concerns about the impact of the election on their businesses
NEW YORK, NY – Oct 25, 2016 – Next-generation entrepreneurs do not feel they have a voice in this year's highly anticipated presidential election and are concerned about the impact on their business, according to the results of a new survey. Justworks, the simple all-in-one benefits, HR and payments platform for small businesses, surveyed its customer base of startups that are disrupting their industries, to shed light on next-generation entrepreneurs' thoughts on the political climate as we approach this year's election.
According to the U.S. Small Business Association, small businesses account for 54 percent of all U.S. sales and provide 55 percent of the country's jobs. However, Justworks' entrepreneurs don't believe they have a voice in the upcoming presidential election, with only 40 percent stating they feel their voice is heard.
The surveyed entrepreneurs also note their fears about the potential implications of the upcoming election: 72 percent are at least somewhat concerned that this election could negatively impact their business.
When it comes to the election's big voting issues, Justworks' entrepreneurs' concerns are both international and domestic in nature. Thirty-nine percent report that immigration reform is one of their top causes for concern. On the domestic side, proposed legislation around a federal tax increase (31 percent), paid family and medical leave (30 percent) and federal minimum wage (25 percent) round out employers' thoughts on the most important issues the next president will tackle.
One impact small businesses are concerned about is that of potential regulatory changes that often occur with new leaders, which could directly affect startups and make compliance a critical challenge. Those startups will look to technology solutions like Justworks to help them manage any potential changes. Specifically, when asked to prioritize, entrepreneurs place outsourcing or automating compliance (32 percent) and health insurance enrollment (34 percent) at the top of their lists of solutions to support their businesses over the coming years.
Participants wrote in some of their additional concerns, especially around a possible Donald Trump presidency: "This [survey] is my first opportunity to voice something about this election." Another respondent states, "I worry that small businesses and entrepreneurs would suffer under the leadership of Trump." In fact, when asked which presidential candidate would be most likely to foster growth for small businesses in New York if elected, Hillary Clinton overwhelmingly captures the next-generation small business vote with 76 percent. Only 13 percent think Donald Trump would support their interests. The remainder of participants prefer a mix of Gary Johnson (5 percent), Jill Stein (0.75 percent) and other or undecided.
"Small businesses, especially the visionary, cutting-edge businesses that make up our customer base, are a cornerstone of this country's economy, job market and our future, and they should be rightfully represented in this election," said Justworks founder and CEO, Isaac Oates. "Justworks strives to help these small business visionaries manage their operations so they can focus on running their businesses successfully, and no matter the outcome of the election we'll continue our mission to make life easier and better for them."
This survey was conducted online and in person within the United States by Justworks, Sept. 20 - Oct. 3, 2016, among 134 small business owners. The margin of error is +/- 9 percent.
Justworks helps entrepreneurs bolster their growing businesses with transparency, integrity and simplicity in mind. Justworks believes in leveling the playing field, and offering large company benefits for small businesses -- so they can provide the care their team deserves and compete for top talent. The ultimate goal is to free entrepreneurs to focus on what matters: building their business and creating a great place to work. To learn more about Justworks' fast and simple-to-use HR and payments platform visit https://justworks.com/ and follow on Twitter @JustworksHR.