Small-business owners are losing confidence
Summary
Confidence among small-business owners in the U.S. has decreased due to challenges like inflation and tariffs. Many are increasing prices while expecting lower revenue, which affects their optimism for business growth.Key Facts
- The MetLife and U.S. Chamber of Commerce Small Business Index showed a decline in confidence for the fourth quarter.
- 45% of small-business owners identified inflation as their biggest challenge.
- 58% expect to raise prices this holiday season, but 52% expect to earn less revenue.
- In a separate survey, 34% of small-business owners reported raising their average selling prices, marking a significant monthly increase.
- Small businesses experienced net job losses in November, with some sectors like health care seeing growth.
- Tariffs have particularly affected small businesses, especially in retail and manufacturing.
- A Supreme Court decision regarding tariffs and trade policies is anticipated soon.
- The White House emphasized confidence in President Trump's America First agenda for future economic benefits.
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