Pandemic Policy Priorities of Business Owners

March 1, 2021

The capitol building is reflected in the water at night

OVERVIEW

As the pandemic disproportionately affects small businesses, the new administration and Congress are currently debating a range of policy responses. Reimagine Main Street fielded a national survey of small business owners from January 7-27, 2021 to provide timely insight into issue priorities and policy preferences of samples of AAPI-, Black-, Hispanic-, and White-owned businesses.

KEY TAKEAWAYS

  • Impact of COVID differs across small businesses - solutions must be targeted (and tailored)


  • Relief may not reach businesses left out in the last round: As expected, businesses that got PPP last time are most likely to apply again in this round. Businesses that did not apply for PPP in the last round are far less likely than their peers to apply this round. Black and Hispanic business owners are most discouraged.


  • Broad and intense support among business owners for contracting incentives and PPP access across all segments of small business. Significant gap in prioritization of capital access-related solutions (e.g. PPP, low cost debt, tax incentives to help defray costs of reopening) between Black (especially women) and Latino business owners vs White business owners.


Methodology


The survey was conducted online from January 7-27, 2021 among 2,254 business owners