With presidential debates well underway, a recently released survey found that Republicans represent the largest portion of small-business owners when compared with Democrats and independents at a national level.
In California, however, the playing field is a little more even with an almost equal portion of small-business owners registered as Democrats and Republicans. Of those included in the study, 30.27 percent were registered Democrats, and 29.53 percent were registered as Republicans. Independents made up 25.18 percent of small-business owners in the Golden State, according to the survey.
Experian, a credit reporting and information services company surveyed 2.5 million U.S. small-business owners, analyzing their political affiliations along with where they started their business, what kind of business they have and their marital status.
Among the study’s findings, Experian found Republican small-business owners have the highest business and personal credit scores. They also have the highest average personal income and on average make $97,481 a year compared with independents ($97,386) and Democrats ($86,574).
A greater portion of Republicans also started their business in their home. Of those surveyed, 41 percent of Republicans started home-based businesses, compared with 29.1 percent of Democrats and 13.4 percent of independent small-business owners.
Small-business owners registered as independent voters were found to be the most educated group, with 73 percent surveyed having some college education and the highest college debt ($40,884 on average). Democrats, however, averaged the lowest student debt ($39,274), but also had a smaller percentage of college education (66 percent). Republicans had a 72.3 percent college attendance rate and on average had $39,944 in student debt.
The study also found that restaurant and beauty salon owners have a high percentage of business owners who are not registered to vote.