SAN FRANCISCO, Nov. 1 /PRNewswire-FirstCall/ -- Small business owners are actively engaged in the political process with nearly 90 percent planning on voting in the upcoming congressional elections, and nearly 70 percent believing the 2006 Congressional elections will directly affect their businesses. These findings come from the Wells Fargo/Gallup Small Business Index, a survey of nationwide business owners conducted by The Gallup Organization and sponsored by Wells Fargo, the nation's top lender to small business owners.
What issues are likely to affect how small business owners vote? Domestic issues are top of mind: energy prices (69 percent), healthcare coverage (68 percent) and the overall economy (67 percent).
"A successful small business and a thriving economy go hand-in-hand," said Bob Michaelian, co-founder and chief financial officer of Townsend Assets Group in San Francisco. "I believe Congressional decisions have a huge effect on today's economy. As a small business owner, I have a responsibility to make sure issues affecting the success of my business are heard and addressed. If I don't speak up on behalf of my business, who will?"
"Small business is hugely influential -- both in shaping the U.S. economy and even, potentially, the overall political landscape. If 90 percent of small business owners plan to vote, that's over 20 million voices having a say in the upcoming Congressional elections," said Rebecca Macieira-Kaufmann, executive vice president and head of Wells Fargo's Small Business segment. "The survey results demonstrate that small business owners participate in the political process to promote and enhance a favorable business climate."
About the Small Business Index
Since the third quarter of 2003, the quarterly Wells Fargo/Gallup Small Business Index has surveyed small business owners on their perceptions of current conditions and future expectations relating to financial situation, revenues, cash flow, capital spending, number of jobs and credit availability. Results are based on telephone interviews with approximately 600 small business owners nationwide conducted September 27, 2006 through October 10, 2006. The margin of sampling error is +4 percentage points.
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $483 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,100 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. has the highest possible credit rating, "Aaa," from Moody's Investors Service and the highest credit rating given to a U.S. bank, "AA+," from Standard & Poor's Ratings Services.
Providing financial products and services to more than one million businesses with annual sales up to $20 million in all 50 states, Puerto Rico and Canada, Wells Fargo is the #1 lender to small businesses in the United States in total dollar volume according to the most recent CRA data (2004).
The second largest national SBA lender in dollars, Wells Fargo is an SBA Preferred Lender in 30 states and the District of Columbia, and originated 4,937 loans for $578 million in 2006. Its diverse business services programs provide outreach and education to women, African American, Latino, and Asian business owners about financial services. Since 1995, Wells Fargo has loaned more than $33 billion to women and diverse business owners. For more information, please visit us at www.wellsfargo.com/biz .
About the Gallup Organization
For more than 60 years, the Gallup Organization has been a recognized leader in the measurement and analysis of people's attitudes, opinions and behavior. While best known for the Gallup Poll, founded in 1935, Gallup's current activities consist largely of providing marketing and management research, advisory services and education to the world's largest corporations and institutions.
Source: Wells Fargo & Company