Small Business Success Amid Political Uncertainty: A Former Biden Adviser's Perspective
In light of the current political climate, marginalized communities express concerns about the impact on their small businesses. However, former Biden administration adviser Jonathan Lovitz believes that small entrepreneurs can thrive regardless of the administration.
Access to Capital, Opportunity, and Growth
Lovitz emphasizes that the fundamental needs of small businesses remain constant: access to capital, opportunity, and growth. He stresses that both Democrats and Republicans recognize the importance of small businesses to the US economy, which constitute 99.9% of all firms and play a vital role in job creation.
Local and State Initiatives
Although federal support for underrepresented communities may diminish, Lovitz notes that local and state governments are stepping up to provide support for business owners. He highlights initiatives such as Pennsylvania Governor Josh Shapiro's executive order prioritizing small and minority-owned businesses for government contracts.
LGBT Business Owners' Resilience and Strength
Lovitz emphasizes the resilience and strength of LGBT business owners, who have overcome numerous challenges in the past. He stresses that their community and innovation will continue to support their success. With an estimated 1.4 million LGBT business owners in the US, ignoring this market segment would be financially unwise for any organization.
Looking Local for Support
By exploring local support and leveraging state and local opportunities, Lovitz believes that small business owners can navigate the next four years with growth and prosperity. He advises entrepreneurs to build connections and collaborate to achieve their goals, regardless of political differences.
Despite the uncertainty, Lovitz remains optimistic about the future of small businesses. He believes that in times of anxiety, strong leaders emerge, and that collaboration and innovation will drive success for LGBT entrepreneurs and beyond.