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The new CNBC/SurveyMonkey Small Business Survey reveals that small business owners hold high hopes for the future of their companies and the economy. The report’s inaugural installment analyzed a sample of 2,030 small business owners from April 17-28, 2017.
Twenty-five percent of small business owners stated that taxes are the most important issue for their business, followed by regulation, customer demand and the cost of employee healthcare, each reported by 14 percent of survey participants.
Survey Findings
Tax Policy
42 percent expect it to have a positive in the next 12 months; 33 percent expect no effect; 24 percent expect a negative effect
Technological Innovation
42 percent expect it to have a positive in the next 12 months; 47 percent expect no effect; 10 percent expect a negative effect
Government Regulations
39 percent expect it to have a positive in the next 12 months; 35 percent expect no effect; 27 percent expect a negative effect
Trade Policy
27 percent expect it to have a positive in the next 12 months; 51 percent expect no effect; 22 percent expect a negative effect
Immigration Policy
24 percent expect it to have a positive in the next 12 months; 55 percent expect no effect; 21 percent expect a negative effect
The survey’s small-business confidence index reached an overall value of 60, on a 0-100 scale (100 representing perfect confidence). The index reveals business size affected confidence levels. Respondents with less than four employees reported a confidence level of 58, while those with 50 or more employees depicted a confidence level of 67.
With the prospect of tax reform and lower taxes, small business owners are heartened by the possibility of more money in their pockets. This capital could be invested back into their companies and communities, potentially revitalizing the small business arena and economy.