Small business confidence has hit a four-year high, yet inflation remains the top worry for owners, according to the Q3 2024 MetLife/U.S. Chamber of Commerce Small Business Index. While 73% of surveyed owners anticipate revenue growth in 2025 — the highest since the Index began in 2017 — 56% identified inflation as their biggest challenge, and 59% believe the economy and inflation should be the main focus of the next administration.
The survey, conducted with 752 small business owners from July 18 to August 2, revealed growing interest in the upcoming 2024 election. Nearly 71% of respondents said they are more invested in this election than in 2020, while 78% want the next President and Congress to prioritize the economy, a 20% jump compared to four years ago.
Despite challenges, optimism persists. Revenue projections and hiring plans have both increased, with 44% of businesses planning to expand their teams in 2025. Small business owners note that local economic activity, such as busy restaurants and shopping centers, supports their positive outlook.
