2024 Business Owner Report

May 2024

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.

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2024 Business Owner Report

Small Business Checkpoint April 2024

Electronic circuit board on computer monitor reflecting in glasses.

Don’t blink; the exponential pace of transformation will move vertically from here, all powered by AI reaching mass adoption.

A group of creative businesspeople collaborating in an open concept office meeting.

As inflationary pressures remain, our data suggests small businesses have turned to credit cards as a source of financing.

Young women sitting at a table, having a good time and hanging out, looking on their cellular devices.

Growing up is expensive. Housing, cars, childcare and more are weighing on the young, but not at the expense of a rainy day fund.