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Small Business Confidence Highest Since 2021

US

Small business confidence is at the highest level since President Biden took office in 2021 according to the CNBC|SurveyMonkey Small Business Survey for Q1 2024.

  • CNBC: “Even in the face of stubborn inflation, small business owners are striking a more positive tone… Twenty-eight percent of small business owners describe the current state of the economy as “excellent” or “good,” up five percentage points from the prior quarter and up from 18% year over year.”
  • The survey will provide a boost for the Biden administration, who have regularly cited small business growth as a key marker of economic strength. Biden said in January: "Every time someone starts a new small business, it’s an act of hope and confidence in our economy. This week, we learned that Americans filed 16 million new business applications during the first three years of my administration."
  • Treasury Secretary Janet Yellen said last month: "Since [Biden] took office, we’ve seen a record small business boom in our country, with 16 million new business applications over the last three years. This boom reflects people’s confidence in their economic situations and the strength of the U.S. economy now and for the future."

Figure 1: Overall Confidence Among Small Business Owners in the US

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Small business confidence is at the highest level since President Biden took office in 2021 according to the CNBC|SurveyMonkey Small Business Survey for Q1 2024.

  • CNBC: “Even in the face of stubborn inflation, small business owners are striking a more positive tone… Twenty-eight percent of small business owners describe the current state of the economy as “excellent” or “good,” up five percentage points from the prior quarter and up from 18% year over year.”
  • The survey will provide a boost for the Biden administration, who have regularly cited small business growth as a key marker of economic strength. Biden said in January: "Every time someone starts a new small business, it’s an act of hope and confidence in our economy. This week, we learned that Americans filed 16 million new business applications during the first three years of my administration."
  • Treasury Secretary Janet Yellen said last month: "Since [Biden] took office, we’ve seen a record small business boom in our country, with 16 million new business applications over the last three years. This boom reflects people’s confidence in their economic situations and the strength of the U.S. economy now and for the future."

Figure 1: Overall Confidence Among Small Business Owners in the US

Keep reading...Show less