The CNBC|SurveyMonkey Small Business Confidence Index ticked up two points this quarter, but inflation is still the overriding concern on Main Street. Small business owners lack confidence that the Federal Reserve will be able to get a handle on inflation, and they are nervous about soon-to-come interest rate hikes.
Other key findings from the latest survey, fielded April 18 - 25, 2022:
- Eight in ten small business owners expect a recession to occur this year
- Inflation continues to be a top concern, but small business owners are reluctant to raise their own prices
- Despite the potential threat from Russia, cybersecurity is no more of a concern for small business owners now than in previous quarters
- President Biden’s approval rating remains underwater among small business owners, with no change over the past three quarters
- Small business confidence ticks up for the first time in the Biden Administration, popping up to a score of 46 out of 100, but remains near its all-time lows
Click through all the results in the interactive toplines below: