As the 2024 presidential election draws closer, U.S. adults are likely to find themselves subjected to a heavy dose of political media and content. But according to a new survey from Bentley University and Gallup, businesses are one group that Americans do not want to hear from on current events: Fewer than four in 10 U.S. adults (38%) believe businesses should take public stances, a decline of 10 percentage points since 2022.
WALTHAM, Mass., Aug. 13, 2024 /PRNewswire/ — The survey — the third iteration of the Bentley-Gallup Business in Society Report — was conducted April 29-May 6, 2024, with a nationally representative sample of 5,835 U.S. adults from the Gallup Panel.
The results show Americans of nearly all age groups, genders, races and partisan groups have become less likely to want to hear from businesses on current events over the past two years.
Groups who were previously the most receptive to hearing from businesses are now considerably less likely to say so. In 2022, three-quarters of Democrats thought businesses should take a stance on current events; yet, over the past two years, that support has decreased by 22 percentage points.
Over the same period, Asian and Black adults have become 27 and 18 percentage points less likely, respectively, to think businesses should speak out. The only groups who now express majority support for businesses taking public stances are LGBTQ+ adults (55%), Black adults (54%) and Democrats (53%).
While Republicans’ support for businesses speaking out has increased from 17% to 22% over the past year, they remain the political constituency that is least likely to want businesses to take public stances overall. Adults 60 and older saw a similar three-percentage-point increase in their support for businesses speaking publicly on current events in the past year, from 35% to 38%, though both percentages are lower than this group’s 43% who favored businesses speaking out in 2022.
Majorities Favor Business Input on Climate Change, Mental Health, Diversity
While 38% of adults generally think businesses should speak publicly on current events, not all events are considered equal. Narrow majorities of U.S. adults want to hear from businesses on climate change (54%), mental health (53%), and diversity, equity, and inclusion (53%). Free speech (48%) and healthcare issues (48%) garner near-majority support, but far fewer U.S. adults want businesses to speak publicly on what may be several of the most salient issues during the November election, including gun laws (32%), immigration policy (31%), international conflicts (24%), abortion (20%) and the candidates themselves (17%).
Democrats are more likely than Republicans and independents to want businesses to speak out on all 13 topics tested — particularly diversity, equity, and inclusion (79%) and climate change (78%). Relative to all other topics, Republicans are most likely to want businesses to speak out on free speech (36%), mental health (33%) and healthcare (28%).
Political Endorsements May Drive Away More Customers Than They Attract
Businesses that publicly endorse a political candidate risk harming their bottom lines among consumers who do not share that candidate preference. More than six in 10 Democrats and Republicans (68% and 61%, respectively) say they would be less likely to purchase from a company that endorsed a candidate from the opposing party.
Independents are about three times more likely to say they would avoid purchasing products from a company that endorsed a candidate from either party than to say such an endorsement would make them more likely to purchase its products. Most independents say it wouldn’t affect their purchasing decisions.
If companies endorse a candidate from a person’s preferred political party, it is unlikely to hurt the business within that group. Just over one in three Democrats (34%) and Republicans (38%) say they would be more likely to purchase products from a company that endorsed a political candidate from their own party, and at least six in 10 say it wouldn’t affect their decisions. Meanwhile, less than 5% say an endorsement from their preferred party would make them less likely to do business with the company.
Bottom Line
As Americans collectively turn their attention to the 2024 presidential race and the parties’ respective platforms on a host of policy issues, their tolerance for businesses that wade into those debates continues to wane.
For two consecutive years, adults have become less likely to want to hear from businesses on current events, with few topics earning interest from even a slight majority. Though less than one-third of adults want businesses to speak out on gun laws, immigration policy or abortion, the American public is especially unlikely to want businesses to take a formal stance on political candidates. Companies that do choose to endorse a candidate may feel repercussions in their bottom lines, as many partisan consumers indicate they would be less likely to patronize businesses that formally endorse candidates of the opposing party.
While businesses primarily serving constituencies that are more receptive to corporate political involvement — such as Democrats, Americans of color, LGBTQ+ adults, and young adults — may be less likely to suffer those consequences, even these groups have become notably less open to business involvement in politics in recent years.
Survey Methods:
Results for the 2024 Bentley-Gallup Business in Society Report are based on a Gallup Panel web survey completed by 5,835 U.S. adults, aged 18 and older, conducted April 29-May 6, 2024. For results based on this sample of adults, the margin of sampling error at the 95% confidence level is ±2.1 percentage points for response percentages around 50% and is ±1.3 percentage points for response percentages around 10% or 90%, design effect included. This report outlines preliminary findings from the survey.
2023 and 2022 results are from previous iterations of the Bentley-Gallup Business in Society Report. In 2023, the survey was conducted May 8-15, 2023. For these results, the maximum margin of sampling error is ±1.8 percentage points at the 95% confidence level. In 2022, the survey was conducted June 8-19, 2022. For these results, the maximum margin of sampling error is ±1.9 percentage points at the 95% confidence level.
In addition to sampling error, question wording and practical difficulties in conducting surveys can introduce error or bias into the findings of public opinion polls.
SOURCE Bentley University
