Small business owners unoptimistic about economy

1 min read

Sentiment among small-business owners in the United States reached its lowest level in 30 months in November, according to a survey conducted by the Job Creators Network Foundation.

The index tracking overall sentiment about the economy fell to 51.9 in November, a decline from 56.2 in October, marking the lowest reading since the monthly survey’s inception in May 2021.

The survey, which involved responses from 400 small-business employers, indicated widespread dissatisfaction with President Joe Biden’s handling of the economy. 

Approximately 80% of respondents graded Biden’s job performance in helping small businesses as a C, D, or F, with 41% assigning an F. While annual inflation has declined from its peak of around 9% in June 2022 to 3.2%, concerns about inflation remain, with 44% of small-business owners citing it as their biggest or second-biggest concern. In addition to inflation, concerns were expressed about the overall economy and customer spending.