Small Business for America’s Future (SBAF) released a new national survey of 862 small business owners that reveals widespread pessimism about the economy and serious concerns about business survival and held a press conference featuring small business owners from across the country who detailed the challenges threatening their businesses.
“At a time when we should be celebrating small business contributions to our economy, we’re instead witnessing a crisis of confidence among America’s entrepreneurs,” says Shaundell Newsome, Small Business for America’s Future co-chair and founder of Sumnu Marketing in Las Vegas, Nevada. “Main Street entrepreneurs thrive on stability and predictability, but what we’re seeing this year are wildly inconsistent policies that make planning impossible. Without economic stability and coherent policies, we’re watching the backbone of America’s economy crack under pressure.”
The survey revealed alarming statistics across the political spectrum:
- 80 percent of small business owners are concerned or pessimistic about their six-month economic outlook
- 79 percent fear a recession within the next 12 months
- 47 percent are very or extremely concerned about potential business closure
- 80 percent of businesses affected by tariffs view them as existential or major threats
- 43 percent report significant supply chain disruptions affecting operations
- 42 percent face rising import costs threatening their bottom line
- 48 percent say they cannot grow or expand in the current economic environment
Notably, 68 percent of small business owners surveyed believe the Administration fell short or significantly underperformed on economic leadership during its critical first 100 days.
“What I am hoping does not happen is that my family legacy is lost. I have two grandsons that I hope to pass this restaurant on to one day and have them expand it and grow it into something bigger and better than what I have done,” says Gladys Harrison, owner of Big Mama’s Kitchen and Catering in Omaha, Nebraska. “I am hoping that these tariffs don’t cause my family-owned business or others to have to close.”
Small Business for America’s Future Business Council members shared direct accounts of the consequences:
- Shaundell Newsome, Owner of Sumnu Marketing in Las Vegas, Nevada — Discussed the widespread small business concern about the economy revealed in the survey. [WATCH REMARKS]
- Gladys Harrison, Owner of Big Mama’s Kitchen and Catering in Omaha, Nebraska — Detailed the impact of tariffs on small business operations. [WATCH REMARKS]
- Gabe Hagen, Owner of Brick Road Coffee in Tempe, Arizona — Explained how the tax code disadvantages small businesses in favor of large corporations. [WATCH REMARKS]
- Walt Rowen, President of Susquehanna Glass Company in Columbia, Pennsylvania — Discussed the burden soaring healthcare costs places on small businesses. [WATCH REMARKS]
The survey was conducted on April 18-May 2, 2025. Download the full report here.
