Survey: Small Businesses No Longer Rank Economic Uncertainty as Top Concern

Small businesses are getting hammered by political uncertainty in Kenya
AFP
Sean Moran

A new survey from U.S. Bank revealed that small businesses no longer rank economic uncertainty as their top concern.

Ross Carey, the executive vice president of U.S. Bank, said,  “Businesses loathe uncertainty, so their confidence in the future is a positive sign.”

Only 11 percent of small businesses ranked economic uncertainty as their top concern, compared 26 percent in 2014.

Instead, most small businesses rank competition from big business as the most pressing issue facing them.

The poll suggested that 37 percent of small businesses believe that Trump’s tax reform bill will positively impact their business, compared to 19 percent who think that it will harm their business.

U.S. government surveys also suggest that the American economy continues to thrive under President Donald Trump.

The Department of Labor revealed last week that wages have risen at the highest pace since 2008.

U.S. Bank’s survey comes as the Commerce Department announced that gross domestic product grew at 2.3 percent, which was the best growth rate at the start of the year since 2015. American jobless claims fell by 24,000 to 209,000, which serves as the lowest level since 1969.

President Trump tweeted on Monday, celebrating the hard-working Americans who run small businesses.

Trump wrote, “During Small Business Week, we celebrate the great, hard-working entrepreneurs across our country who have started and operate a small business!”

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