During the second Presidential debate both candidates will talk about small businesses, but they should understand that the desires of businesses owned by African Americans Latinos, whites and women are not the same.
The 17 page Gazelle Index Report on Minority, Women and Small Business Outlook for 2012 is now available. The report analyzes the economy and the outlook for minority and women businesses.
A summary of the 2012 outlook for small businesses owned by minority, women and non-minority CEOs is provided below. The results are based on the Gazelle Index national random survey of CEOs.
The Gazelle Index is a new national quarterly survey of the outlook, current conditions, optimism and future hiring plans of minority, women and non-minority small firms. It published because here is no up-to-date survey of these groups.
The 2012 Outlook for women-owned businesses is positive; 26.1% will increase hiring in the first quarter of 2012 while only 13.3% will decrease hiring. Women business hiring will be strongest in the South and Midwest and especially in Information Technology related industries.
Women business owners are gloomy about the economy but plan to increase hiring in 2012. Their two most important strategic objectives are improving management efficiency and product and service quality.
The Gazelle Index survey shows that hiring will increase in 2012; 27% of small businesses will increase hiring and 14% will cut. We forecast a 7.8% or lower unemployment rate.
Small business owners want the Presidential candidates to cut business taxes (especially Hispanic businesses) and make bank loans more easily available (particularly black business owners).
Small businesses owners differ in what they want out of Presidential candidates. Hispanic businesses strongly prefer lower taxes, black businesses want more access to loans and credit.
Based on a national survey of small business CEOs, reducing the minimum wage would have the smallest positive effect on hiring among all policies. If the government does nothing, it will also hurt small business hiring.