(NewsNation) — A new survey shows Hispanic small business owners are divided over their support for President Joe Biden and former President Donald Trump ahead of the 2024 election, with many remaining undecided.
The poll by the United States Hispanic Business Council (USHBC) found that 14% of its members who previously backed Biden are now undecided on who to support. Another 9% who voted for Trump in 2020 are also undecided.
Overall, about 1 in 5 Hispanic USHBC members say they are undecided about the upcoming presidential election.
The survey highlights Hispanic voters as a crucial bloc that could sway the outcome, with 51% favoring Trump over 27% for Biden when it comes to their businesses’ bottom lines. Another 22% prefer neither candidate on economic grounds.
“We’re seeing that the Hispanic electorate is the most independent and the most undecided voting bloc in the United States,” Javier Palomarez, USHBC’s CEO and a lifelong Democrat who now considers himself undecided, told “NewsNation Prime” on Sunday.
Latinos have grown at the second-fastest rate of any major racial and ethnic group in the U.S. electorate since the last presidential election. An estimated 36.2 million are eligible to vote this year, up from 32.3 million in 2020, according to Pew Research Center data.
Among the top issues for Hispanic business owners are the economy (31%), preserving democracy (30%), national security (14%) and immigration (13%).
The poll of over 2,300 USHBC members nationwide found 32% identified as Republicans, 34% as Democrats and 35% as independents. A notable 67% are open to an independent candidate.
When asked about financial impacts, inflation topped concerns at 33%, followed by gas and electricity prices at 27% and interest rates at 20%.
