Quarterly Survey Finds Small Business Owners Confident about the Economy and the Future of Their Businesses
ENGLEWOOD CLIFFS, N.J. and SAN MATEO, CA, June 9, 2017 —CNBC, First in Business Worldwide, and SurveyMonkey, the world's leading online survey platform, today announced the results of the first-ever CNBC/SurveyMonkey Small Business Survey. The one-of-a-kind quarterly survey of more than 2,000 small business owners is designed to measure the health of the beating heart of the American economy and gather Main Street opinions on jobs, regulation, healthcare and other hot issues facing small businesses. In addition to measuring small business confidence nationwide, the large sample size gives CNBC the power to uncover trends in key geographic regions and among specific types of small businesses.
Key findings from the CNBC/SurveyMonkey Small Business Survey include:
- 58% of small business owners approve of the job Donald Trump is doing as President. More Small Business Owners (38%) are Republicans than Democrats (23%).
- 25% of small business owners say taxes are the most critical issue facing their businesses. That was trailed by regulation, customer demand, and cost of employee health care (all tied at 14%).
- Most small business owners think policy changes will have a positive effect on their businesses over the next 12 months:
- o 42% say changes in tax policy will have a positive effect vs. 24% who say it will have a negative effect
- o 38% say changes in regulations will have a positive effect vs. 26% who say it will have a negative effect
- o 27% say changes in trade policy will have a positive effect vs. 22% who say it will have a negative effect
CNBC Small Business Reporter Kate Rogers will reveal the results of the CNBC/SurveyMonkey Small Business Survey today, Friday, June 9 throughout CNBC's Business Day programming. For more information on the survey including the full results and methodology and in-depth articles, go to: http://www.cnbc.com/cnbc-survey-monkey-small-business-survey/.
In addition, SurveyMonkey created a unique Small Business Confidence Index (SBCI), which is a 100 point score based on responses to eight key questions. The first-ever SBCI has an overall value of 60, indicating that small business owners are more optimistic than pessimistic about the direction their business will go in the next 12 months.
The CNBC/SurveyMonkey Small Business Survey was conducted using SurveyMonkey's online platform from April 17 - 28, 2017 among a national sample of 2,030 self-identified small business owners ages 18 and up. Respondents for this survey were selected from the nearly three million people who take surveys on the SurveyMonkey platform each day. The modeled error estimate for this survey is plus or minus 3.5 percentage points.
Data for this quarter have been weighted to be representative of small business owners nationally, according to business characteristics from the Small Business Administration's 2013 Statistics of U.S. Businesses and owner characteristics from the Census Bureau's 2012 Survey of Business Owners.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, and CNBC World, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to more than 385 million homes worldwide, including more than 94 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
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SurveyMonkey is the world's leading online survey platform, with more than 3 million survey responses every day. SurveyMonkey has revolutionized the way people give and take feedback, making it accessible, easy and affordable for everyone. The company was founded in 1999 with a focus on helping people make better decisions, and has built technology based on over 18 years of experience in survey methodology and web development. Customers include 99% of the Fortune 500, academic institutions, organizations and neighborhood soccer leagues everywhere. The company has over 650 employees throughout North America, Europe, and Asia Pacific, with headquarters in San Mateo, CA. For more information, visit www.surveymonkey.com.