Any business owner knows that finding funding is one of the biggest concerns for any organization, if not the biggest. It’s a constant struggle, one that most business owners deal with on a daily basis. If you’re in politics, the fundraising doesn’t stop there either. Political fundraising is just as important as business fundraising, and all smart politicians run their campaigns like a business themselves. Politicians have a bottom line to answer for and shareholders to respond to, and fundraising is a huge part of their daily responsibilities. That’s why it’s so fascinating to look at the current political race to get an idea of how today’s candidates are handling their fundraising efforts.
- Hillary Clinton’s campaign may be the most successful in terms of raw dollars raised. According to the Federal Election Commission, she’s put more in the bank in terms of contributions than any other politician this year, set to the tune of $112 million.
- This amount is much more than Bernie Sanders’s $74.3 million that he has raised so far, which is the next highest fundraiser, in terms of dollars.
- Donald Trump is trailing far behind at around $19.3 million.
These numbers are really fascinating to consider when you take candidate spending into account.
- Even with Clinton’s bank of $112 million, she has spent $76.2 million so far, leaving her with about $35.8 million still in the bank for this campaign.
- Bernie Sanders, on the other hand, has raised $74.3 million and has been more conservative, having spent about $46 million so far, leaving him with $28.3 million.
The big game changers when it comes to donations are SuperPAC donations and the small donors. SuperPACs are independent donation committees, which are allowed to raise unlimited donations for a particular candidate. These donors don’t have donation limits and are able to run advertisements for candidates as long as they don’t give money to campaigns directly. Small donors can also have a big impact on fundraising for political campaigns. Bernie Sanders has taken in a massive 84 percent of his donation totals from small donors, meaning they have donated less than $200 each. That’s a lot when you consider that Sanders is second overall in terms of total funds raised.
Fundraising for this presidential race is turning out to be of crucial importance to the candidates. This campaign is going to be one of the most expensive in history, as there has been around $431 million in contributions taken in so far this cycle. Where the race goes from here is anyone’s guess, but if history is any indication, those with the largest fundraising campaigns will go on to be the biggest front-runners for the election.
This article was written by Deborah Flomberg for Small Business Pulse