Business as Usual: 60% of Small Business Buyers and Sellers Staying the Course Despite Election Year
As Election Day approaches on November 5th, the nation's attention is fixed on local, state, and national races. However, Main Street tells a different story. According to BizBuySell's quarterly Insight Report, small business owners are largely maintaining a "business as usual" approach, with over 60% of both buyers and sellers reporting that the upcoming election won't affect their timeline for business transactions.
While small business owners traditionally lean Republican, nearly one in five now prefer to remain silent about their political views. This reflects a larger trend in corporate America, where CEOs maintain political neutrality while channeling private support through campaign donations and super-PACs. Like newspaper editorial boards stepping back from political endorsements, Main Street businesses are increasingly embracing neutrality while still advocating for policy reforms in areas like taxation, access to capital, and healthcare costs.
Election Season and the Business-for-Sale Marketplace
Data from transactions in the business-for-sale marketplace shows a strengthening market. Business sales increased 5% in Q3 2024, while BizBuySell’s Buyer-Seller Confidence Index reveals improving sentiment across the board. On a scale of 0-100, seller confidence rose 4 points to 50 from 46 in 2023, while buyer confidence increased two points to 54. Both groups are displaying increased confidence at the same time—for the first time—indicating a favorable market for buyers and sellers, regardless of the election results.
Despite the uncertainty election season brings, among potential buyers, 65.35% say the upcoming election has no impact on their timeline, while 8.50% are speeding up their purchasing plans. Even though just over 25% of buyers are holding off on decisions until after the election, market activity has not slowed down.
Similarly, most business owners remain committed to their exit strategies, with 62.27% maintaining their original selling timelines and 11% accelerating their plans. While 26.73% are waiting for election results before proceeding, the market continues to show strong fundamentals.
Main Street’s Take on Presidential Candidates
When asked which presidential candidate would have the greatest impact on the small business sector, both buyers and sellers showed similar response patterns. Among potential buyers, 49.94% favored Trump, while 24.38% preferred Harris, and 3.5% selected other candidates, while 22.18% chose not to answer. Current business owners expressed similar views, with 53.50% supporting Trump, 22.42% choosing Harris, and 4.21% selecting other candidates, while 19.87% declined to respond. The notable share of participants who withheld their political preferences reflects how many business owners are choosing to maintain neutrality in today's political climate.
Small Business Priorities: Following the Bottom Line
Amid election headlines, small business owners and buyers continue to focus on essential day-to-day business matters. Regardless of political affiliations, they prioritize practical issues that directly affect their bottom line. Access to capital, tax reform, and operational costs emerge as the key policy priorities buyers and sellers want candidates to address – core issues that impact business success regardless of election outcomes.
With the 2024 election approaching, the business-for-sale market is thriving, showing increased transaction volume and growing optimism among buyers and sellers. Most market participants are maintaining a business-as-usual approach, and opportunities exist for both buyers and sellers who are prepared to move forward. Building value, maintaining operational efficiency, and making strategic decisions based on market fundamentals rather than political headlines remain the primary focus for Main Street leaders.