Building a Better America: Access to Capital for Minority Small Businesses

WASHINGTON, DC – Over the past six months, over a dozen business organizations built a series of impactful business fly-ins at the White House, gathering over 200 business leaders from across the country to engage directly with top policymakers on critical economic issues. These summits, covering four regions and representing over 20 states, offered business owners a unique opportunity to discuss economic policies such as the Investing in America Agenda and the transformative effects of the Inflation Reduction Act (IRA), Bipartisan Infrastructure Law (BIL), and CHIPS Act. "We were proud to be part of the coalition that brought hundreds of business leaders to Washington to learn about opportunities in the Invest in America Agenda,” said Dr. Janis Shinkawa, Chair of the Board of Director at the National Association of Women Business Owners (NAWBO) . “There is incredible opportunity for entrepreneurs across America right now thanks to the Inflation Reduction Act, Bipartisan Infrastructure Law, and CHIPS & Science Act, which are fueling a small business boom. It’s critical that we keep that boom going by connecting policymakers and business leaders to discuss these opportunities and ensure they are implemented effectively.” “The USHCC was honored to support a series of regional economic summits at the White House led by our partners at Public Private Strategies,” said Ramiro A. Cavazos, CEO & President, United States Hispanic Chamber of Commerce . “These impactful events empowered our local chamber leaders to better understand and leverage federal investments in small businesses. By bringing these resources directly to our communities, we are ensuring that Hispanic-owned businesses across the country are positioned to thrive and grow.” “WIPP is delighted to have supported the inclusion of small businesses in this partnership,” said Angela Dingle, President & CEO, Women Impacting Public Policy (WIPP) . “Providing women-owned small businesses the opportunity to be at the forefront of policy that affects them is critical in ensuring that these entrepreneurs have a voice in the economy. It is through initiatives such as these that these underrepresented voices are made to feel valued and included.” “Engagements like these are essential to ensuring that historic investments of the past four years are accessible to all. The chance to gain resources and deeper understanding on these policies is paramount to closing the gap to upward mobility for small business owners,” said Ying McGuire, CEO & President, National Minority Supplier Development Council (NMSDC) . “This initiative fortifies the alliance between policymakers and small business owners, a relationship which is needed now more than ever.” "We were thrilled to be a part of these summits, which have opened new avenues for LGBT-owned businesses to engage directly with policymakers and gain critical insights into federal initiatives that support their growth," said Justin Nelson, Co-Founder & President at the National LGBT Chamber of Commerce (NGLCC) . "By bridging the gap between small businesses and Washington, we ensure that our voices are heard, and our unique challenges are addressed, creating a more inclusive and vibrant economy." "These summits have empowered our community by connecting Asian American and Pacific Islander (AAPI) entrepreneurs with decision-makers at the highest level," said Chiling Tong, President and CEO at the National Asian Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) . "With the support of policies like the Inflation Reduction Act and the CHIPS Act, AAPI-owned businesses are better equipped to innovate and thrive. It is essential that we continue to foster these conversations to ensure that all entrepreneurs, regardless of background, have the resources they need to succeed." "When you're an entrepreneur sifting through business resources, it's easy to get lost in the information and wonder if there are real human beings on the other end of the phone. The fly-ins put a friendly face to the bureaucratic processes small business owners must navigate to push their enterprises towards sustainability. I think the events helped restore entrepreneurs' faith that government officials are looking out for them." said Richard Trent, Main Street Alliance Executive Director. “When small business leaders brief Washington decision makers on policy issues affecting their business -- like tax credits, infrastructure investments, and childcare access -- everyone walks away with a better understanding of how economic policy impacts not only their bottom line, but the communities they employ and serve. This year's regional summits highlighted how valuable local business leaders are to building and maintaining vibrant communities and local economies.” said Liz Fairchild, Executive Director of Business Forward . "This series provided a fantastic opportunity to elevate the voices of small business owners, offering entrepreneurs nationwide a platform to share their concerns with some of the most influential lawmakers in Washington. In a world that so often dismisses the smallest businesses because they don't have enough market share on their own to exert real power, it was refreshing to see individual business owners welcomed to the table and treated as important constituents whose needs should be addressed." John Arensmeyer, Founder and CEO, Small Business Majority . “These summits were an incredible opportunity to connect business leaders from all corners of the country with key policymakers. By facilitating these important discussions, we ensured that small businesses, the backbone of the American economy, have a seat at the table and a voice in shaping economic policy,” said Rhett Buttle, President of Public Private Strategies Institute . "Small businesses fuel innovation, create jobs, and drive economic growth. It's crucial that their voices are not only heard but also reflected in our nation's policies. These summits provided a meaningful opportunity for business owners to engage with policymakers on the opportunities and challenges of running a business,” added Katie Vlietstra Wonnenberg, Principal at Public Private Strategies . Small Business Summits, by the numbers: 200 business leaders have participated in four economic briefings at the White House. Four regions represented, spanning over 20 states, including: Mid-Atlantic: DC, DE, MD, NC, PA, VA, & WV Midwest: IL, IN, MI, MN, & WI Southwest: AZ, CO, NM, NV, & UT Southeast: AL, FL, GA, NC, & SC Business leaders took part in policy briefings, networking receptions, and training, featuring guest speakers from the U.S. Department of Treasury and key Administration officials. The final event in September emphasized opportunities for entrepreneurs in the Southeast, focusing on ensuring that small business voices are heard as these historic investments continue to support a thriving business environment. “These summits allowed small business owners to bring their concerns directly to the nation's leaders, ensuring that policies are informed by those who live and breathe the day-to-day challenges of running a small business,” said Sammi Kerley, Small Business for America's Future (SBAF). Patricia McKinley, Owner, KHAVL Transport, LLC, Phoenix, AZ: "As a small business owner, it's vital to have our voices and priorities heard. This event at the White House was an incredible opportunity to highlight the critical role small businesses play in driving economic growth and creating jobs in our communities. We look forward to engaging in meaningful dialogue about the challenges we face and the support we need to continue thriving." Maysee Heer, CEO of the Hmong Wisconsin Chamber of Commerce, Milwaukee, WI said: "Diverse communities are a vital part of Wisconsin's economic landscape, and we've witnessed substantial job creation and a surge in new business ventures, thanks to these supportive actions the Administration has taken. By investing in diverse-owned small businesses, we not only preserve cultural heritage but also fuel economic growth. Our dialogue with the White House today was a crucial step in advocating for these essential changes." Subrina and Greg Collier, BayHaven Restaurant Group Charlotte, NC, said: “I’m encouraged by the White House’s commitment to investing in the small business economy. This event allowed us to bring the unique challenges and opportunities of our region to the table and to learn about resources and support available to promote growth. It was an important step toward ensuring that small businesses like mine continue to thrive and contribute to the economic vitality of our region.” Media Highlights Several business owners who attended the summits shared their insights on the impact of federal economic policies on small businesses in prominent media outlets: Suzanne Stantley discussed how the Investing in America Agenda has benefited small businesses in her recent interview with Yahoo! Finance. Walt Rowen highlighted the challenges and opportunities for business owners in a segment on Fox 5 DC. Shaundell Newsome spoke about the importance of equitable access to federal resources during his appearance on LNL. Additional Media Contributions Business owners also shared their perspectives in several Letters to the Editor (LTEs) published across the country, reflecting on the summits' discussions and their impact on the business community: Suzanne Stantley, Chicago Tribune Anne Zimmerman, Cincinnati Enquirer Shaundell Newsome, Las Vegas Sun Angel Figueroa, Reading Eagle Valerie Benton Smith, News & Record ###

WASHINGTON, DC – Today, Vice President Kamala Harris announced that the Small Business Administration (SBA) provided a record $56 billion in lending during Fiscal Year 2024, supporting more than 100,000 small business financings—the most in over 15 years. The Vice President also highlighted efforts to cut red tape and announced new proposed measures aimed at simplifying access to federal contracting, benefiting small businesses across the country. The new measures aim to make it easier for small businesses to compete for federal contracts, furthering opportunities for growth and innovation. Rhett Buttle, President, Public Private Strategies Institute, released the following statement: “The historic $56 billion in SBA lending to small businesses in FY24, a more than 50% increase from four years ago, is just the latest sign of America’s small business boom. Thanks in part to smart policy investments like the Capital Readiness Program and State Small Business Credit Initiative, there have been more than 20 million new small business applications in the past four years. A small business start or loan is an investment in a brighter future, and over the past four years, small business lending has increased dramatically, with particularly strong increase among Black-, Latino- and women-owned businesses. “The new measures unveiled today seek to cut red tape, streamline federal contracting, and ultimately, build more momentum for American entrepreneurs. By increasing access to capital and opportunities, these actions will help strengthen businesses in communities across the nation, promoting job creation and economic growth. We remain focused on fostering partnerships that support small businesses and ensure their continued success.” ###

WASHINGTON, DC – This week, a delegation of business leaders from Alabama, Florida, Georgia, North Carolina, and South Carolina gathered at the White House to discuss the impact of federal policies on their communities and explore new avenues for growth under the Investing in America Agenda. The event underscored the unique challenges and opportunities facing the region’s entrepreneurs. Participants also learned directly from the Biden-Harris Administration about their efforts to support small businesses through strategic investments and economic policies. Following the Business Leader Summit, business leader participants released the following statements: Steven Adkins, President/CEO, Greater Miami LGBTQ Chamber of Commerce, Miami Beach, FL, said: “As a proud member of the LGBTQ community, I am deeply honored to have our voice recognized in such an important forum. Bringing together business leaders from across the Southeast to discuss the Investing in America Agenda, while also sharing our unique experiences as LGBTQ entrepreneurs, underscores the vital role collaboration plays between the public and private sectors. It was an invaluable opportunity to engage with policymakers and hear firsthand about the investments driving growth and innovation in our region. These discussions have left us with a renewed Rhett Buttle, President, Public Private Strategies Institute, said: “Small businesses are the backbone of our economy, particularly in the Southeast where they play a crucial role in driving innovation and job creation. This event provided a unique opportunity for business owners to directly engage with policymakers, ensuring that their voices are heard and their needs are addressed. The insights gained from this event will help shape the policies that support small business growth and economic resilience in the region.” Subrina and Greg Collier, BayHaven Restaurant Group Charlotte, NC, said: “I’m encouraged by the White House’s commitment to investing in the small business economy. This event allowed us to bring the unique challenges and opportunities of our region to the table and to learn about resources and support available to promote growth. It was an important step toward ensuring that small businesses like mine continue to thrive and contribute to the economic vitality of our region.” Devotis Lee, D Cafe Atlanta, Atlanta, GA, said: "It was inspiring to see the White House recognize the critical contributions of Southeastern small businesses. The investments being made by leaders in Washington today will be instrumental in ensuring our businesses thrive in a competitive national landscape for decades to come." Bailey Lewis, Words First Content Strategy, Columbia, SC, said: “Small businesses across the Southeast are powering our communities forward. This event at the White House was an invaluable opportunity to learn about new avenues for growth, to voice our concerns, and to share our perspectives on the small business landscape. We discussed critical issues such as managing the not-insignificant costs of running and growing a small business, as well as the need to foster more competitive markets. Together, we identified steps to drive economic growth and strengthen our communities, ensuring that the Southeast remains a vibrant place for entrepreneurship.” Laconya Murray, Off the Mark IP Solutions, Montgomery, AL, said: “The discussions we had this week in Washington reinforced the vital role that small businesses play across our economy. It was an honor to join entrepreneurs from across the Southeastern region to learn about the policies shaping the economic landscape in our communities.” ###

WASHINGTON, DC – Today, a delegation of business leaders from the Southwest, including Arizona, New Mexico, Nevada, and Colorado gathered at the White House to discuss the crucial role of small businesses and Main Streets in the economy. The event underscored the unique challenges and opportunities facing small business owners and served as a platform for business owners to share their experiences and insights directly with policymakers. Participants learned directly from the Biden-Harris Administration about their commitment to small businesses and the big investments they have made so communities in the Southwest can take part in the economic boom. Following the Business Leader Summit, business leader participants released the following statements: Patricia McKinley, Owner, KHAVL Transport, LLC, Phoenix, AZ: "As a small business owner, it's vital to have our voices and priorities heard. This event at the White House was an incredible opportunity to highlight the critical role small businesses play in driving economic growth and creating jobs in our communities. We look forward to engaging in meaningful dialogue about the challenges we face and the support we need to continue thriving." Kristelle Siarza Moon, Owner and CEO, Siarza & Volunteer Executive Director, Asian Business Collaborative, Albuquerque, NM: "These meetings underscore the importance of supporting small businesses, particularly those in underrepresented communities. We were thrilled to bring our perspectives to the table and discuss ways to foster inclusive economic development. By sharing our experiences and insights, we hope to influence policies that create a more equitable business environment for all." Masaru Torito, Owner, Kokoro Restaurant, Denver, CO: "This event provided a remarkable platform to discuss the vital role of small businesses in our economy. It was an honor to share our story and the unique challenges we face in the restaurant industry. We hope our contributions will help shape policies that support small businesses and foster a more resilient economic environment." Andrea Vigil, Owner, Allegiant Electric LLC, Las Vegas, NV: "Being part of this event at the White House was a significant moment for small businesses like ours. It was a chance to advocate for policies that will help us thrive and continue contributing to the local and national economy. We look forward to continuing to have productive discussions and the opportunity to collaborate on solutions that will benefit small businesses across the country." Katie Vlietstra Wonnenberg, Secretary, Public Private Strategies Institute said: "We are deeply committed to elevating the voices of small business owners and ensuring they have a seat at the table when it comes to policy decisions that affect their lives. This event at the White House underscores the critical role small businesses play in driving our nation's economy and fostering innovation within our communities. By bringing together a diverse group of business leaders from the Southwest, we are highlighting the unique challenges and opportunities they face in this vibrant region. Our goal is to advocate for policies that support their growth and sustainability. “Small businesses are not just economic entities; they are the heart of our neighborhoods, providing jobs, services, and a sense of community. Today, we are amplifying the importance of their contributions and advocating for an environment where they can thrive. We are grateful to the White House for recognizing the value of these discussions and for the opportunity to collaborate on building a more inclusive and robust economy. Together, we can create a future where every small business has the resources and support it needs to succeed." ###

WASHINGTON, DC – Today, a delegation of business leaders from the Southwest, including Arizona, New Mexico, Nevada, and Colorado gathered at the White House to discuss the crucial role of small businesses and Main Streets in the economy. The event underscored the unique challenges and opportunities facing small business owners and served as a platform for business owners to share their experiences and insights directly with policymakers. Participants learned directly from the Biden-Harris Administration about their commitment to small businesses and the big investments they have made so communities in the Southwest can take part in the economic boom. Following the Business Leader Summit, business leader participants released the following statements: Patricia McKinley, Owner, KHAVL Transport, LLC, Phoenix, AZ: "As a small business owner, it's vital to have our voices and priorities heard. This event at the White House was an incredible opportunity to highlight the critical role small businesses play in driving economic growth and creating jobs in our communities. We look forward to engaging in meaningful dialogue about the challenges we face and the support we need to continue thriving." Kristelle Siarza Moon, Owner and CEO, Siarza & Volunteer Executive Director, Asian Business Collaborative, Albuquerque, NM: "These meetings underscore the importance of supporting small businesses, particularly those in underrepresented communities. We were thrilled to bring our perspectives to the table and discuss ways to foster inclusive economic development. By sharing our experiences and insights, we hope to influence policies that create a more equitable business environment for all." Masaru Torito, Owner, Kokoro Restaurant, Denver, CO: "This event provided a remarkable platform to discuss the vital role of small businesses in our economy. It was an honor to share our story and the unique challenges we face in the restaurant industry. We hope our contributions will help shape policies that support small businesses and foster a more resilient economic environment." Andrea Vigil, Owner, Allegiant Electric LLC, Las Vegas, NV: "Being part of this event at the White House was a significant moment for small businesses like ours. It was a chance to advocate for policies that will help us thrive and continue contributing to the local and national economy. We look forward to continuing to have productive discussions and the opportunity to collaborate on solutions that will benefit small businesses across the country." Katie Vlietstra Wonnenberg, Secretary, Public Private Strategies Institute said: "We are deeply committed to elevating the voices of small business owners and ensuring they have a seat at the table when it comes to policy decisions that affect their lives. This event at the White House underscores the critical role small businesses play in driving our nation's economy and fostering innovation within our communities. By bringing together a diverse group of business leaders from the Southwest, we are highlighting the unique challenges and opportunities they face in this vibrant region. Our goal is to advocate for policies that support their growth and sustainability. “Small businesses are not just economic entities; they are the heart of our neighborhoods, providing jobs, services, and a sense of community. Today, we are amplifying the importance of their contributions and advocating for an environment where they can thrive. We are grateful to the White House for recognizing the value of these discussions and for the opportunity to collaborate on building a more inclusive and robust economy. Together, we can create a future where every small business has the resources and support it needs to succeed." ###

WASHINGTON D.C. – Last week, the Public Private Strategies Institute (PPSI) hosted a Business Leader Briefing featuring the President's Chief Economic Advisor, Lael Brainard, Director, National Economic Council, The White House. The event brought together a few hundred small business leaders to hear directly from Director Brainard about the Biden-Harris Administration’s Lowering Costs Agenda, including efforts to lower health care and prescription drug prices, make childcare more accessible and affordable, and create a level playing field for small businesses. Moderated by Carolina Martinez, CEO of the California Association for Micro Enterprise Opportunity (CAMEO) Network, business leaders also engaged in Q&A with administration officials and provided feedback and insights drawn from their experiences. A full recording of the briefing is available for viewing here . Director Lael Brainard discussed the Administration’s commitment to small businesses, saying, “The President and the Vice President believe that small businesses are the backbone of our economy. You all are the job creators, you're huge contributors to GDP, you breathe life into Main Streets all over the country and you represent the best in service and innovation.” Director Brainard highlighted recent efforts made by the Biden-Harris administration to lower costs for small businesses, adding, “We couldn't be prouder that there has been a record number of applications in each of the last three years – each one an act of optimism. We know that to start a small business it is critical to have access to health insurance, and affordable childcare, to see costs coming down, to provide a little bit of breathing room at the end of the month…That’s why the President has a comprehensive plan to keep lowering costs across nearly every area of a budget.” Rhett Buttle, President of the Public Private Strategies Institute said, “We hope this briefing was informative and provided valuable insights into the current administration’s efforts to support small businesses and families. We believe in the power of collaboration between the public and private sectors to drive positive change, economic growth, and innovation for Main Streets across America." A full recording of the briefing is available for viewing here . To learn more about the Lowering Costs Agenda, please explore this factsheet and remarks from D irector Brainard announcing the initiative last month. ###

PHOENIX, AZ – This week, the Public Private Strategies Institute (PPSI) convened a virtual roundtable with 35 Arizona business leaders to discuss the current democracy landscape in Arizona. The roundtable featured Secretary of State Adrian Fontes, who emphasized the critical role of partnerships between the state and the business community to engage and educate voters, encourage civic participation, and counter misinformation and disinformation. A recent poll showed that the strong majority of business leaders say the existence of a well-functioning democracy is important to a strong economy, and that business leaders are more likely now than five years ago to take action to support democracy, like allowing employees to take time off from work to engage in the political process. The roundtable provided a platform for a dynamic exchange of ideas on how to address current challenges and leverage the strengths of the business community to support a vibrant democracy in Arizona.  Participants are saying: Secretary Fontes emphasized the importance of addressing false claims and maintaining Arizona’s reputation. “We know there's no tangible proof of any significant problems with Arizona's elections. We know because that's what the data shows us. And yet there are still people out there who continue to make false claims, some of them elected by the system they criticize, and they're doing damage to our state’s reputation. Think about it from a business perspective: is that helpful? Especially when we've got a burgeoning semiconductor industry. We're dealing with a lot of big issues like water, education, workforce and our healthcare needs. Arizona’s reputation is something we really have to think about, which impacts the opportunities for Arizona's businesses. Help get more American voices engaged in the Democratic enterprise. That to me is where business leaders can also be community leaders.” Monica Villalobos, President and CEO of the Arizona Hispanic Chamber of Commerce who moderated the roundtable, stressed the importance of inclusive engagement. “Business owners play a vital role in protecting democracy by serving as a vehicle to disseminate truthful information on elections and actively discouraging misinformation.” Neil Giuliano, President and CEO of Greater Phoenix Leadership and former Mayor of Tempe , echoed these sentiments. “Business leaders know that misinformation permeating society is not healthy for democracy, and an unhealthy democracy threatens future economic prosperity. These conversations are important and we are happy to encourage them among all community leaders.” Rhett Buttle, President of the Public Private Strategies Institute and Co-Founder of the Business & Democracy Initiative , highlighted the significance of the collaboration. “Arizona’s business leaders are in a unique position to foster civic engagement and support a healthy democracy. We are committed to building these essential partnerships to empower voters and strengthen our democratic institutions.”

WASHINGTON, DC – Today, a delegation of business leaders from Illinois, Indiana, Michigan, Minnesota, and Wisconsin gathered at the White House to discuss the critical role of small businesses and Main Streets in the economy. The event underscored the unique challenges and opportunities facing small business owners and emphasized the need for supportive policies to foster economic growth, small business development, and community engagement. Participants also learned directly from the Biden-Harris Administration about their commitment to small businesses and the big investments they have made so communities in the Midwest can take part in the economic boom. Following the Business Leader Summit, business leader participants released the following statements. Chris Douglas, Managing Director of C.H. Douglas & Gray Wealth Management, Indianapolis, IN said: “It was great to be in Washington this week and to meet with officials from across the Biden-Harris administration to discuss the vital importance of small businesses to our economy. Their Investing in America Agenda has led to a record number of new business starts for three years running, well above the preceding administration; strong job creation; levels of unemployment so low as to be practically unprecedented; and inflation falling back in line. I think Hoosiers are seeing the benefits. After this week’s discussions, I’d like to see this administration continue on its path. Their policies and successes make me much more optimistic about the future of small business across the country.” Gene Gelgelu, President and CEO, African Economic Development Solutions, St. Paul, MN said: “Small business is the backbone of our economy, and the Biden-Harris administration knows it. That’s why they’ve made historic investments in small business growth that are fueling strong job creation, a record number of new small business starts, and falling inflation. This week’s meetings only strengthened my optimism about the future of the small business landscape.” Kevin Heard, Board President of the Detroit LGBT Chamber of Commerce, Detroit, MI said: "The Biden-Harris Administration has created an environment where LGBTQ+ entrepreneurs can thrive like never before. Our work focuses on creating opportunities for LGBTQ+ entrepreneurs, so that everyone has a seat at the table. By supporting diverse-owned businesses, we enrich our communities and drive innovation. Today's discussions highlighted the achievements made and the path forward to maintain this incredible momentum." Maysee Heer, CEO of the Hmong Wisconsin Chamber of Commerce, Milwaukee, WI said: "Diverse communities are a vital part of Wisconsin's economic landscape, and we've witnessed substantial job creation and a surge in new business ventures, thanks to these supportive actions the Administration has taken. By investing in diverse-owned small businesses, we not only preserve cultural heritage but also fuel economic growth. Our dialogue with the White House today was a crucial step in advocating for these essential changes." Suzanne Stantely, Founder & CEO of BE Group Inc./Contractor Advisors, Inc., Chicago, IL said: "Entrepreneurs are the lifeblood of our economy, continually adapting and innovating to meet the needs of their communities. The Biden-Harris Administration's policies have directly resulted in increased job opportunities and business expansions in Illinois. Our job is to continue ensuring that Main Street has access to the resources and support needed to thrive. Today's visit with the White House was an important opportunity to voice the needs of small business owners across Illinois and the nation." Katie Vlietstra Wonnenberg, Secretary, Public Private Strategies Institute said: "Today's event highlighted the remarkable economic progress small businesses have seen under the Biden-Harris Administration. A record number of new small business applications, falling inflation, and robust job growth: these are clear indicators of the success of targeted investments in small business that are growing the economy and fueling a small business boom. This administration’s focus on collaboration between the public and private sectors has been crucial in driving this success. “By bringing together diverse voices from across the Midwest, we highlighted the universal importance of small businesses in driving economic growth and community well-being. It's essential that we continue to advocate for policies that support Main Streets across America, and collaboration with the White House is a promising sign of commitment to fostering a thriving small business environment."

WASHINGTON, DC – Ahead of Super Tuesday, a new poll finds that consumers are deeply concerned about the state of democracy and strongly support action by businesses to protect democratic institutions. The poll, conducted by Morning Consult on behalf of the Public Private Strategies Institute, sheds light on consumer expectations for businesses to actively engage in protecting and upholding democracy in the United States. The newly released research builds on previous surveys from the Business & Democracy Initiative that show business leaders and consumers alike know that a strong democracy is essential to a strong economy. Read the Full Survey Report Here The survey questioned more than 2,500 consumers across the country and shows strong consumer preferences for business action to prevent the spread of disinformation on social media, encourage employee civic education and participation, and take a public stance in support of democratic institutions. Key Survey Findings: Consumers are deeply concerned with the state of American democracy: 84% of consumers express concerns about the state of democracy in the U.S., with 86% of Democrats and 82% of Republicans sharing this concern. Consumers believe businesses have a responsibility to act to protect democracy: 76% of consumers believe businesses should ensure safe and fair elections. 72% of consumers support businesses speaking out publicly about threats to democracy. 67% of consumers want businesses to influence federal policies related to democracy. 69% of consumers expect businesses to take action at the state level. Consumers support concrete actions by businesses to support democracy, including shifting advertising and donation dollars to support democratic ideals: 74% of consumers support businesses that pull advertising dollars from social media platforms that do little to prevent the spread of disinformation. 65% of consumers support business donations to political candidates or organizations that work to protect democracy. 75% agree employees should have time off for political engagement. 74% support businesses publicly endorsing democratic principles. Rhett Buttle, President of Public Private Strategies Institute and Co-Founder of the Business & Democracy Initiative : "These findings make it clear that a thriving democracy is not just a political concern, but an economic imperative. The overwhelming majority of consumers recognize the link between democracy and a strong economy. This data should be a wake-up call for businesses as we approach the 2024 elections. Consumers believe that businesses have a duty to ensure fair elections and protect democratic institutions, and businesses need to act accordingly.” ###