Mitt Romney might be struggling to engage with certain sections of the US electorate, but one group prefer him much more than Barack Obama – family businesses.
Romney topped CampdenFB's poll, which asked its readers who would be the best president for family businesses. The former governor of Massachusetts received 60% of votes in the poll, compared with Obama’s 31%. A very high 9% voted for neither, suggesting many feel unhappy about both candidates.
Republican presidents and candidates have always received more support from the business community, as they have traditionally been more pro-business. Of course, when political support among the business community is looked at in more detail, the reality is somewhat more nuanced.
Many of the businesses connected to the technology sector tend to favour Democrats, whereas those businesses linked to more traditional production and services like auto-manufacturing and banking have largely supported Republican candidates.
Much of the support for the Republicans comes from their pro-business and wealthy tax policies. Romney’s tax policies are no exception to this, with promises to cut income tax for the highest earners, corporate taxes and abolish estate taxes.
Also, family businesses no doubt appreciate Romney’s business experience, even though this was gained at the private equity business he co-founded, Bain Capital. Boston-based Bain gained a reputation for controversial leverage buy-outs of businesses – a process often completely at odds with the principle of stewardship espoused by many family businesses.