The most recent Bi-Annual Trends Report from Small Business Expo was released last month and revealed that, despite low confidence in support from the government, many small business owners feel confident about their future. According to the survey, when ” it comes to the current administration and its support for small businesses, only 30% of the respondents agreed.” In comparison over 60% of business owners agreed or strongly agreed that they are confident in their business at the current moment.
This report comes just weeks before the Fed revealed a rise in interest rates.
The reason many small businesses are lukewarm to government practices lies specifically in cost. “According to the US Chamber of Commerce Foundation, the cost of regulations to small businesses with 50 employees or less is almost 20% higher than the average for all firms.”
The survey is based on responses from “400 U.S.-based small business owners across industries in retail, manufacturing, education, non-profit and government agencies. Small Business Expo has the largest small business networking and educational events with more than 100,000 small business professionals and entrepreneurs participating every year.”
In addition to this being the most recent report from Small Business Expo, this is also the first of the bi-annual reports for 2018.