Blog

Around two-thirds of small business owners say that current economic conditions under President Joe Biden could force them to  close their doors, according to a new poll  from the Job Creators Network Foundation (JCNF) reported by the Daily Caller.

According to the report:

Digging deeper, 44% of small business owners say crime has increased in their area, while 39% say it's remained the same. Businesses making less than $100,000 per year were the most likely group to say that crime has increased, at 55%, while those with over $1 million per year in revenue were least likely to say that crime is on the rise.

"Small businesses are more vulnerable to high taxes and costly regulatory environments compared to their large corporate counterparts," JCNF president Elaine Parker told the Caller. "That’s why it’s no surprise that 26% of small businesses say they’ve considered relocating to a different state or city to chase more favorable tax rates and escape government red tape. This is an opportunity for free-market minded governors to continue making their states stand out from the crowd by implementing pro-growth policy reforms that will ignite Main Street."

Currently around 46% of US workers are employed by small businesses – or 61.6 million people, according to Forbes Advisor.

The biggest concern among small business owners, of course, is inflation – with 49% expressing concern vs. 48% in March. 

Another concern is complying with local, state and federal regulations, which 58% said was time-consuming, vs. 54% in April.

The poll surveyed 400 small business owners, and was conducted between May 2 and May 19, with a margin of error +/- 4.9%.