31 JAN 2024

Glass Half Full: Small Business Owners Optimistic About 2024 Despite Challenging Business, Lending Environment

While inflationary pressures and tightening credit markets are straining small businesses, 75% are optimistic about 2024 and 62% expect to increase profits. Despite 71% reporting inflationary pressures increasing over the past three months, and 77% saying they are concerned about their ability to access capital, 75% of small business owners report they are optimistic about their financial trajectory in 2024. Furthermore, 57% expect to create jobs this year, 62% are projecting an increase in profits before the year concludes and 28% rate the economy as good or excellent – a 9% increase compared to three months prior. These findings, showing concern about current economic headwinds alongside optimism for the future, are among the key findings of a survey of small business owners released by Goldman Sachs 10,000 Small Businesses Voices.

Access the transcript here.