November 2024

Washington, D.C. (December 16, 2024)—New polling from the Job Creators Network Foundation (JCNF) reveals small businesses are hopeful going into 2025. The Small Business Intelligence Quotient, an index tracking the overall small business sentiment about the economy, jumped nearly 6-points to 62.3—the highest level since July 2021. The meaningful uptick is notably driven by a 7.3-point improvement in future expectations.

A big factor prompting the sentiment rebound is the outcome of the November election. The poll revealed American small businesses voted for Trump over Harris by a 17-point margin (51 percent to 34 percent). More than 6 in 10 small business owners are optimistic that the incoming Trump administration will help Main Street.

Small businesses believe the top three priorities of the incoming Republican-controlled government should be 1.) Securing the Border, 2.) Balancing the Budget, and 3.) Making the Tax Cuts and Jobs Act (TCJA) Permanent. On the tax cuts front, if the TCJA is left to expire, 37 percent of small business owners say they would consider delaying or cutting back on plans to grow operations and 24 percent say they would cut employee hours.

View more polling details here.

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

“The small business community is obviously excited about what the incoming Trump administration could mean for the economy. It will be a breath of fresh air following four years of policies that have thrown cold water on small business hiring and expansion. Hopefully, the incoming White House and its allies in Congress can meet the moment by delivering policy victories ranging from making the Tax Cuts and Jobs Act permanent to cutting government red tape.”