DALLAS--(BUSINESS WIRE)--National Write Your Congressman (NWYC), an organization that gives small businesses a voice in American government, released its Q2 2020 Quarterly Index which found hope, satisfaction and trust in U.S. Members of Congress declined since the beginning of the year amidst economic and coronavirus concerns, and civil unrest.
Despite this decline, 66 percent of small business owners surveyed have received Paycheck Protection Program (PPP or “Program”) loans, and fortunately, since many NWYC members were deemed “essential,” 84 percent have kept their business open during coronavirus shut downs.
“Now more than ever, our members are the most engaged with Members of Congress. Our business owners know their voice is heard, and are continually communicating with Congress, but are still waiting on the action and trust in Congress to move forward on legislation to help their families, community and business,” said Randy Ford, President and COO of National Write Your Congressman. “We see a positive business outlook as business owners have reported they have kept their business open and are continuing to look for ways to receive additional relief funds.”
The majority of small business owners surveyed have been able to keep their business open, and only two percent had to shut down their business entirely. Almost half saw a decline of 25 percent or less of revenue and sales and 15 percent had to lay off or furlough employees.
Seventy-four percent of small business owners said they accessed PPP Loans from a local community bank.
“It is no surprise that the small community banks provided the majority of loans to our members. Many of our members tried getting a loan with the large, national banking institutions and found the lack of communication and process frustrating. Small community banks were definitely the heroes in this process,” said Ford.
Eighteen percent of small business owners accessed both Economic Injury Disaster Loan & PPP Loan Programs. Of those that did not apply for the loan programs, twenty-three percent said they would consider applying now because of adjustments made to the loan terms.
“We are clearly seeing an economic effect on small businesses as a result of the pandemic, but with the added relief programs by the U.S. Government, small business owners have accessed funds and have been able to keep their business open,” said Ford.
Sentiment Towards Elected Officials
Since Q1 2020, hope in Congress declined by more than 36 percent, hope in state government declined by 25 percent, and hope in local government decreased by 19 percent.
More than half (54%) of small business owners surveyed said they do not trust the elected U.S. Congressional Members who represent them, yet 53 percent of those surveyed said they believe their U.S. Congressional Members know their opinions on important issues. Forty-eight percent of small business owners believe their own elected U.S. Congressional Members do not act according to their constituents' input. Thirty-seven percent of respondents trust their local government, with only seven percent trusting Members of Congress.
“The decline in hope, trust and satisfaction with Congress and all areas of government is no surprise. The satisfaction in state and local government for future solutions has dropped from the beginning of the year,” said Ford. “Although there have been financial relief programs for business owners, hope in government is low right now due to the tremendous civil unrest and protesting of government entities.”
NWYC provides members with non-partisan information and research along with the tools they can use to connect with their representatives in Washington and advocate for the policies and actions that will help their small businesses be successful for their families, their employees and their communities.
National Write Your Congressman is dedicated to the delivery of constituent information to members of Congress. It releases a Quarterly Index Score, which takes into account six factors measuring small business owners’ trust, hope and satisfaction towards Congress and government. All past Quarterly Indexes’ can be found here. The Q2 2020 Index infographic can be found here.
NWYC collected data using an online survey administered June 30 through July 6, 2020. A total of 987 respondents participated. Respondents represent 48 of the 50 states in the U.S. Fifty-six percent of business owners surveyed employ 1-9 employees and 40 percent employ 10-99 employees. The predominant industries represented are construction, services, automotive repair, health, legal, accounting, engineering, advertising, education, manufacturing, agriculture, and retail trade. To view the full report, visit www.nwyc.com.
About National Write Your Congressman
National Write Your Congressman (NWYC) is an organization that gives small businesses a voice in American government. As the nation’s largest, privately held, nonpartisan membership organization made up of small businesses, NWYC is dedicated to the delivery of constituent opinions to representatives in Washington. For more than 60 years, NWYC has provided small business owners and operators the tools necessary to connect with members of Congress and a platform to let their collective voice be heard. NWYC’s team of experts provides unbiased, nonpartisan information and research on top issues and pending legislation relevant to small business owners today. NWYC presents both sides of the issue so that members can form an educated opinion and let their opinions be heard.