2024 election causing some uncertainty for Iowa small business owners
DES MOINES, Iowa (Gray Media Iowa Capitol Bureau) - A new national report shows that small business owners remain uncertain about the future even though inflation and interest rates have both fallen. The National Federation of Independent Business survey found that small business owners have their highest sense of uncertainty for the next six months compared to any time in the survey’s 38 years.
David Lekowsky runs the American Plumbing Supply Company in Des Moines’ East Vilage. The company specializes in hard to find plumbing items, mostly antique faucet parts. “I grew up in the store, but I’m third generation. My grandfather had it since 1936,” he said.
He says it’s not easy running a small business right now. “It’s very hard. Price of the cost of real estate taxes and healthcare costs are very astronomical when it comes to a small business,” he said.
Lekowski says healthcare costs his family around $2-3000 a month, and he still has to pay suppliers high prices.
“I feel inflation is still happening or we’re still buying things at the inflated prices so it may have slowed down, but I’m still, inflation is still here for the past two or three years,” he said.
A few blocks away at MARNē, a specialty clothing boutique focusing on sustainability, owner Angela Poldberg says her business is doing well, but she’s noticing that people aren’t supporting small businesses as much as they did during the pandemic.
“There was such momentum around small business for a couple years and I feel like while we still do have great support, I think there’s like a little piece of that that has gone away and maybe shifted towards, you know, savings, big box stores. So I hope people can not forget about us,” she said.
She hopes that will change as the temperatures drop. “For the temperatures to shift into the holiday mode so we can move through what in our space is clothing and you know merchandise for cool temperatures,” she said.
The next part may surprise you, but one thing that both owners say is a major source of their uncertainty is the election.
“I feel like once the season’s behind us for election we’ll be, you know, we’ll calm down a little bit,” Poldberg said.
“Lately, it’s kind of slowed down. I think people are waiting to see what the election will be and the big projects are slowing down,” Lekowsky said.
Both owners say this happens in an election year, and they’re ready to put it behind them.
“Been here long enough we kind of see it in cycles. No matter who comes to power,” Lekowsky said.
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Conner Hendricks covers state government and politics for Gray Media-owned stations in Iowa. Email him at conner.hendricks@gray.tv; and follow him on Facebook at Conner Hendricks TV or on X/Twitter @ConnerReports.
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