In the latest CNBC|Momentive Small Business Survey, three key index measures—those relating to government regulations, tax policy, and trade policy—are now more pessimistic than ever in quarterly surveys back to 2017 .The Small Business Confidence Index score slips down one point to 44 in Q4.
Other key findings from the latest survey, fielded November 10 - 16, 2021:
- Just 34% of small business owners now approve of the way Joe Biden is handling his job as president, down from 40% in Q3 (had been 42% in Q2 and 43% in Q1)
- One third (34%) of small business owners say inflation is the biggest risk to their business now
- Small business owners are more apt to say the Infrastructure Investment and Jobs Act will negatively impact their business (36%) than to say it will positively impact their business (24%); a plurality (37%) say it will have no direct impact on their business
- 28% of small business owners say they have open roles that they have been unable to fill for at least three months, down slightly from 31% in Q3
- 60% of small business owners now expect government regulations to have a negative effect on their business in the next 12 months, a new high
- 63% now expect changes in tax policy to have a negative effect on their business in the next 12 months, a new high
- 49% expect changes in trade policy to have a negative effect on their business in the next 12 months, a new high
Read more about our polling methodology here.
Click through all the results in the interactive toplines below: