More Millennial Entrepreneurs Likely to Vote in 2014 Midterm Elections Than 2012, 'Skeptical' of Political Parties
More millennials are planning to vote this November than in 2012, yet the demographic's turnout is still lower than any other age group.
According to Manta, an online community dedicated to small businesses, 67 percent of millennials -- notably millennial entrepreneurs -- plan to vote in the midterm elections. In 2012, 50 percent of millennials voted on Election Day.
Millennials are also "skeptical" of the major political parties. Fourteen percent said Democrats are bigger supporters of small businesses, while 27 percent said the GOP is. Twenty-eight percent of millennials stated none of the major political parties are advocates of small business.
"Political parties have not caught up to the fact that Millennials are becoming a powerful voting group. When Millennial entrepreneurs evaluate major political parties, Manta's poll found this generation to be most skeptical about which party, if any, supports small business," Manta told Latin Post. "These small business owners want a candidate who understands and sympathizes with their business needs, offering a clear opportunity for candidates seeking support from Millennials."
Although the Tea Party Movement touts itself as a major supporter of small businesses, millennial entrepreneurs are the "least likely" to agree with the movement. Only 16 percent of millennial entrepreneurs classified the Tea Party as the biggest support for small business.
"I don't feel either political party has proven to be overwhelmingly supportive of small business. In my opinion, an ideal candidate would be someone who's less driven by social issues and rhetoric and more concerned with providing real, pragmatic solutions that address the needs of new businesses in dynamic markets," millennial entrepreneur and Found in Town Founder Zach Haller said in a statement.
Perhaps surprisingly, more millennial entrepreneurs opposed a minimum wage increase than other groups surveyed by Manta. Despite the opposition, millennials stated income inequality is the second-largest problem in the U.S. The top issue for respondents was the economy. Taxes, health care and immigration rounded out the top five.
"The economy is still top of mind for the small business community, with one-third reporting it as the biggest challenge currently facing the United States," Manta CEO John Swanciger said. "Taxes and healthcare have fallen down on the list of concerns, while illegal immigration and income inequality are rising on the list of top challenges."
The Manta CEO added that a "vast majority" of small business owners plan to vote in the midterm elections. Regardless of generation, 81 percent of small business owners stated they will vote for the challenger instead of the incumbent in November.
Looking ahead to the 2016 presidential elections, small business favor Mitt Romney over other more likely candidates such as Sen. Rand Paul, R-Ky, or former Secretary of State Hillary Clinton, who ranked third and was the top female on the list. Sen. Marco Rubio, R-Fl., was the fourth most popular choice. Jeb Bush, Chris Christie, Elizabeth Warren and Andrew Cuomo were also in the top 10.
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