Obama Has An Absolutely Miserable Approval Rating Among Business Owners

Barack Obama

Photo: AP

Business owners are now the group of the workforce most disapproving of President Barack Obamaaccording to a new poll from Gallup this morning. 50-nine per cent of business owners disapprove of the job he is doing, and his approval rating has plunged to just 35 per cent among the group. Obama’s approval rating among business owners has fallen 6 points in the second quarter of the year. 

The Gallup poll measures a three-month period and was taken before presumptive Republican nominee Mitt Romney began hammering Obama on his “you didn’t build that” comment from a July speech. More likely, it’s an indicator of the backlash from sluggish economic growth in the second quarter of 2012. 

The poll’s findings are similar to a May Gallup poll, which said that business owners preferred Romney as their choice for president by an astounding 20 per cent margin. 

Here’s a look from Gallup at how different occupations approve and disapprove of Obama’s job performance:

Obama approval

Business owners represent only about 3 per cent of the U.S. population, but Gallup’s Lymari Morales writes that it’s crucial for Obama’s rating to improve among this small-but-important group as the election approaches. And that’s why Romney is likely to continue his attacks on Obama’s “you didn’t build that” quote — and why Obama will have to keep defending what he said in context.

If business owners become more positive about Obama and his plans for the economy, that could potentially boost his approval ratings and broader U.S. economic confidence closer to the levels necessary for him to be well positioned for re-election. Conversely, further deterioration in his approval rating among business owners could certainly add to the perception that Obama is not doing enough to bolster small businesses in the country.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.