Small business owners aren’t jumping for joy about the US economy – but they still aren’t jumping ship

Small businesses are doing OK right now, even if there is a bit of concern about tariffs, inflation, labor shortages and higher costs

Small businesses in the US account for approximately half of the country's jobs, so when small businesses are doing well, it's likely that the economy is doing well. Media reports recently indicated that many small businesses are challenged by Trump's tariffs, ongoing inflation, labor shortages and higher financing costs. So how are small businesses doing so far in 2025? Not great. But not that bad either.

In just the past two months, there have been no less than seven comprehensive surveys conducted by well-known companies and brands that altogether surveyed or drew from their internal data of tens - even hundreds - of thousands of small businesses. And they give a pretty good idea of how they're doing.