May 2024
2024 Business Owner Report
This year’s survey explores the perspectives, aspirations and outlooks of small and mid-sized business owners across the U.S.
Key takeaways
- The majority of U.S. business owners anticipate revenue growth this year, as 87% of mid-sized business owners and 65% of small business owners expect their revenue to increase over the next 12 months.
- Business owners’ economic outlooks varied by the size of their business: three-quarters of mid-sized business owners expect the national economy to improve over the next 12 months, while only one-third of small business owners expect the same.
- While concerns over inflation have come down slightly since this time last year, 90% of mid-sized and 84% of small business still say that it is currently impacting their business. The latest Small Business Checkpoint notes that small businesses are making greater use of credit cards – balances are almost 20% higher than 2019 average levels, which raises some concerns, though inflation-adjusted credit card balances remain lower than 2019 levels.
Read our full analysis for a more in-depth look at these trends.
