Goldman Sachs wants to make small business an issue during the presidential debate between Donald Trump and Kamala Harris on September 10.
The bank unveiled the ad campaign Monday in Times Square, just a block from ABC headquarters, where the televised debate will take place.
The billboard, organized by the bank's nonprofit advocacy arm, 10,000 Small Businesses, calls on the panel moderator to allocate time to small business policy during the panel.
“The issues that matter most to us have been largely ignored by the candidates running for office in November,” Jessica Johnson Cope, national leadership council chair of Goldman Sachs 10,000 Small Businesses Voices, told The Washington Post.
“Presidential candidates should be asked to provide more details about their proposals to support Main Street.”
10,000 small and medium-sized enterprises He also sent a memo to ABC executives outlining six key questions local business owners want to know about Kamala Harris and Donald Trump, according to information obtained by the Journal.
“Small businesses are the backbone of the American economy, accounting for 44 percent of America's gross domestic product and employing approximately 50 percent of the American workforce,” the memo said.
Despite its significant contribution to the economy, business leaders' concerns are often overshadowed by more controversial topics.
During a 90-minute debate on CNN in June between then-Democratic candidates Joe Biden and Donald Trump, the candidates discussed abortion, immigration and the economy in general, but did not mention small businesses.
Biden's poor debate performance has been cited as one of the main reasons for his decision not to seek a second term as president.
Advertising campaigns and letters Recent Goldman survey It found that 55% of local business owners are unhappy with how candidates are addressing small business issues, including inflationary pressures, small business tax policies, regulatory burdens, workforce training and access to affordable capital.
With 78% of business leaders saying small business policies were a factor in their voting, this could be a key issue for both Trump and Harris to win over voters.
Goldman's charity has erected billboards within a block of ABC News headquarters and has also produced a detailed memo outlining six questions the network could ask during the first debate between Kamala Harris and Donald Trump.
Suggested questions focus on how candidates would address topics such as increasing the number of qualified workers, helping small businesses adopt artificial intelligence, and providing affordable child care for small business employees.
The question is, “Small businesses are struggling with inflation, labor and access to capital…What specific policy proposals will your administration implement to support America's small businesses and make them more competitive?”
“High interest rates and limited lending options make it difficult for small business owners to get the capital they need to expand. Do you have any plans to make it easier for small businesses to access affordable loans and lines of credit?” asks another.
As a philanthropic venture, Goldman Sachs launched the 10,000 Small Businesses Initiative in 2009. The initiative provides local business owners with educational programs, mentors and access to capital.
More than $200 million has been awarded to small business owners at LaGuardia Community College in Queens.
Many of Goldman Sachs' executives have left the bank to work in politics, earning the bank the nickname “Government Sachs.”
Former President Biden's Securities and Exchange Commission chairman, Gary Gentler, was a Goldman partner. Under Trump, Goldman alumni including the bank's former chief operating officer, Gary Cohn, served as chairman of the National Economic Council, and Goldman partner Steve Mnuchin served as Treasury secretary.
Treasury Secretary Mnuchin was instrumental in passing the Paycheck Protection Program, which provided small businesses with loans to forgive up to eight weeks of payroll costs during the early stages of the COVID-19 pandemic.
Johnson-Corp acknowledged that ABC might not include the proposed questions in the broadcast, but said he wanted to make it as easy as possible for the network to slip them in. “Who knows,” he added, but he remains hopeful.
