As a 501(c)(3), we do not engage in political commentary but we do discuss the impacts of anything and everything relating to small business. With the elections and the associated chaos, there are ramifications for small businesses, one of which pertains to retail; as a matter of fact, one survey found that the results of our elections would vary 30% up or 30% down depending on the outcome of the election (Genovese, 2020). A 30% differential up or down is quite significant and the reason why it is important for us, as businesses and consumers, to be aware of this is so that we can be aware of our own personal habits.
While there are tax differences between the candidates running for office, we cannot allow the small business community to become a pawn in the equation. Regardless of what happens in the election, regardless of how messy it may become, we must always remember to support our local, small businesses. As we continue to unite small business owners across the country, we have an opportunity to share resources and knowledge to a level that has not been seen before. If we, as a small business community, are to survive and thrive, we must unite together. Although some people may try to politicize certain businesses, at the end of the day, a small business is a small business – we all share the same goals of creating value, supporting our families, and living our dreams.
As we unite the small business community and continue to serve small and micro businesses, please remember to buy local and also post a picture on social media. Yes, the purchase makes the business owner’s day… but also seeing the product/service on social media makes it more personal! During times like these, it is also important to encourage – may we all unite, support, and encourage small businesses nationwide!
John M. Beaman
President of The McGraw Council Membership, Inc.
Genovese, D. (2020). Retail sales dependent on election winner, survey finds. Fox News. Foxbusiness.com. Retrieved from https://www.foxbusiness.com/retail/us-election-retail-sales