How the Election Will Impact Small Business – NFIB

What it means: The Small Business Rundown features NFIB political experts Tim Goodrich and Sharon Sussin to break down what the election results and ballot measures mean for small businesses.

Our take: “When we come in as NFIB, our state directors go and lobby, and they’re the voice of our members. It’s always helpful to have somebody they’re talking to that has run a small business and can talk about the impact of regulations or the impact of a new labor law. It makes the conversation easier,” said Tim Goodrich, NFIB’s Vice President of State Government Relations.

Election results are in, but what does that mean for small business? The Small Business Rundown podcast covers the impact of small business owners getting elected to office and taking on roles in state government, as well as insight into ballot measures and the policy outlook in states across the nation.

Sharon Sussin, NFIB’s Senior National Political Director, explained NFIB’s endorsement process and how the endorsed candidates fared in this election cycle. She explains the importance of small business owners running for office to advocate for small business issues. Tim Goodrich, NFIB’s Vice President of State Government Relations, talks about the significant ballot measures, how NFIB engaged in certain initiatives, and how those measures could impact small businesses nationally.

Goodrich shares his expectations for state-specific issues including minimum wage, energy policies, and taxes. Small businesses are hopeful that the election results will reduce inflation and The Wall Street Journal draws a possible connection about how small business owners feel about the economy based on NFIB’s November Optimism Index rising by eight points, the highest reading since June 2021. There may be other factors at play, but Goodrich points to a few surprise victories that will shape the economy and benefit small businesses.
Listen to the fiftieth Small Business Rundown episode: Small Business Electoral Wins & Legislative Outlook to hear more about small business wins and the policy outlook in states across the nation.