January 2025

Washington, D.C. (February 7, 2025)—New polling from the Job Creators Network Foundation (JCNF) reveals that small businesses sentiment is surging as President Trump begins his second term. The Small Business Intelligence Quotient, an index tracking the overall small business sentiment about the economy, increased to 62.7 in January—a new 40-month high.

The news comes as the Trump administration is hitting the ground running with a flurry of executive orders—notably efforts to bring down energy costs and overall prices for small businesses and consumers.

The poll shows small businesses have clear legislative priorities they want the White House to pursue in concert with Congress, including extending—and expanding—the Tax Cuts and Jobs Act, as well as passing the Credit Card Competition Act. Both would help small businesses save more money that could subsequently be reinvested into job creation, higher employee wages, and growing operations.

View more polling details here and find key takeaways below:

• More than 6 in 10 respondents are optimistic that the new Trump administration will help small businesses.
• Seventy-seven percent of small businesses support legislation in Congress that would lower credit card “swipe fees” by fostering free market competition (Credit Card Competition Act).
• By a three-to-one margin, small businesses say the Tax Cuts & Jobs Act should be extended. If it expires, one-third of small business owners say they would consider delaying or cutting back on plans to grow operations, 19 percent would cut jobs, and 16 percent say they would cut employee hours.
• Sixty percent of small businesses support efforts by the Department of Government Efficiency (DOGE) to cut $2 trillion of government spending to balance the federal budget.

Elaine Parker, President of the Job Creators Network Foundation, released the following statement: 

“The small business community is excited about the Trump administration but understands executive actions alone do not create lasting policy changes. It’s imperative that the White House works together with its allies in Congress to advance pro-small business proposals that will stick. It’s clear from our polling that first year priorities should include extending the tax cuts and reforming our broken credit card system.”