Why Anti LGBT Laws Are Bad for Business

  1. Jill Andrews
  2. July 23, 2017 10:07 am

Why Anti LGBT Laws Are Bad for Business

 

The United States of America is slowly becoming more progressive, with young citizens in particular adopting largely liberal views. While conservatives and liberals often clash against each other, especially in the battle arena that is United States politics, not all of each groups’ ideas are more correct than one another.

Same-gender sexual activity has been observed in hundreds of species of organisms, ranging from primates ever-similar to humans like monkeys and macaques, to birds including pigeons and penguins, all the way to lizards and insects. Regardless of what some people think, homosexuality is natural, although it’s not an integral part of reproduction.

Governments that believe in limiting LGBT rights often host a range of economic disadvantages for their resident businesses. The most recognizable instance of governments blocking LGBT rights is North Carolina’s “bathroom bill.”

The former governor of the Tar Heel state, Pat McCrory, signed House Bill 2, also named the Public Facilities Privacy & Security Act, into effect on March 23rd, 2016. Often shortened to HB2 when making its rounds through media circles, the bill caused the National Collegiate Athletic Association (NCAA) to take North Carolina off its list for hosting Men’s and Women’s Basketball Tournaments through 2022, as the organization plans five years in advance.

Online payment giant PayPal had planned on building a business facility in Charlotte, North Carolina, that was estimated to bring over $2.5 billion to the state’s economy in coming years. While on a much smaller scale, Beatles legend Ringo Starr had canceled a concert in the state, losing North Carolina approximately $30,000. CoStar had plans to employ 700 Tar Heel residents, plans that were soon canceled. Deutsche Bank abandoned business talks that would have brought 250 openings to the state. Adidas was going to build a factory in North Carolina, instead opting to build it in Atlanta, Georgia.

Countless other businesses didn’t make their business public knowledge, however, so it’s impossible to know how much revenue was actually lost from HB2’s signing.

Governor McCrory was ousted later in 2016, the same year he signed the detrimental bill. On March 30, new state leader Roy Cooper repealed HB2.

North Carolina’s example is the most recent in United States history, still fresh on the minds of many American residents, and those around the world. Governments around the world still maintain conservative views against gays, lesbians, and transgendered persons. In 2011, a study by the University of California at Los Angeles found that 11 percent of the United States population identified at least some attraction towards like genders. Similarly, about 8.2 percent of Americans reported they had real-life sexual experiences with at least one like-gendered person.

Counting all LGBT people throughout the world, about 200 billion dollars is spent towards traveling by those identifying as LGBT, or heterosexuals attending LGBT-friendly events.

Businesses that don’t have well-established positive attitudes towards gays, lesbians, and transgendered people should consider hiring an LGBT marketing company to not miss out on LGBT-related business. An LGBT marketing company can also perform regular marketing functions, serving a dual purpose for their clients.