Goldman Sachs wants to put small business on the agenda at the Donald Trump and Kamala Harris presidential debate on Sept. 10.
The banking giant unveiled a billboard campaign in Times Square Monday just a block from ABC global headquarters, where the televised debate will take place.
The billboards are part of the advocacy arm of the bank’s nonprofit,10,000 Small Businesses initiative and call for the debate moderators to give small business policy airtime at the debate.
“The issues that matter most to us most have been largely overlooked by candidates running for office this November,” Jessica Johnson-Cope, chair of the national leadership council of Goldman Sachs 10,000 Small Businesses Voices told The Post.
“Candidates for president need to be asked to provide more detail on their proposals to support Main Street.”
10,000 Small Businesses also sent ABC leadership a memo that outlines six key questions local business owners want to know about Kamala Harris and Donald Trump, The Post has learned.
“Small businesses are the backbone of the American economy, accounting for 44% of America’s gross domestic product and employing nearly 50% of American workers,” the memo reads.
Despite a huge contribution to the economy, business owners’ concerns are often overshadowed by more controversial topics.
In June, candidates addressed abortion, immigration and the overall economy at CNN’s 90 minute debate between then-Democratic candidate Joe Biden and Donald Trump — but did not address small business.
Biden’s slow performance at the debate is credited as one of the key reasons which made him decide not to seek a second term as president.
The advertising campaign and letter come after a recent Goldman survey revealed 55% of local business owners are dissatisfied with the way candidates are addressing small business issues; including inflationary pressures, small business tax policy, regulatory burden, workforce training, and access to affordable capital.
Given 78% percent of business owners say small business policy is a factor in their vote, this could be a key issue for both Trump and Harris to win over voters.
Goldman’s philanthropy placed the billboard less than a block from ABC News headquarters and also drafted a detailed memo with six different questions the network could ask at the first debate between Kamala Harris and Donald Trump.
Suggested questions focus on how candidates will address topics like expanding the number of qualified workers, helping small businesses adopt artificial intelligence, and bringing affordable childcare to small business employees.
“Small businesses are struggling with inflation, workforce, and access to capital… What specific policy proposals will your administration implement to support America’s small businesses and help them compete?” One question reads.
“High interest rates and limited loan options are making it challenging for small business owners to access the capital they need to grow their businesses. What is your plan to make it easier for small businesses to access an affordable loan or line of credit?” Asks another.
Goldman Sachs launched the 10,000 small business initiative in 2009 as a philanthropic venture. It supplies local business owners with educational programs, mentors, and access to capital.
More than $200 million in funds have gone 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.”
Biden’ Securities and Exchange Commission chair Gary Gentler was a Goldman partner. Under Trump, Goldman alums including the bank’s former chief operating officer Gary Cohn served as head of the National Economic Council while Goldman partner Steve Mnuchin was Treasury Secretary.
Mnuchin was instrumental in passing the Paycheck Protection Program that gave small businesses forgivable loans of up to eight weeks of payroll costs during the early days of the COVID-19 pandemic.
While Johnson-Cope acknowledges ABC may not include their proposed questions, she wants to make it as easy as possible for the network to slip them in. “Who knows?” she added, saying she was hopeful.
