The Small Business and Entrepreneurship Council (SBE Council) has commented on the current economic environment pertaining to smaller firms. Following the recent Presidential debate in Atlanta, the SBE Council noted that small businesses received little attention from either President Jo Biden or prior President Donald Trump.
The group stated that while broad topics such as inflation, immigration, taxes, national security and more were discussed, support for entrepreneurs and business owners were ignored.
SBE Council president & CEO Karen Kerrigan said that President Biden’s debate performance received much attention as far as his policies are concerned: “he said nothing…that will boost the confidence and outlook of entrepreneurs and small business owners.”
President Biden claimed that the economy was strong. The data, however, shows a different picture according to the group.
SBE Council chief economist Ray Keating recently highlighted that for the first quarter of 2024. While there was a slight increase in GDP growth from 1.3% to 1.4%, the economy remains weak. Keating said:
“Among various analysts, economists and talking heads, there is an assertion being put forth that we’re in the midst of a strong economy, and these people express bewilderment that this economic strength is not widely recognized. Well, could it be that these individuals are wrong – either ignoring key data out of ignorance or because of politics?”