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International Business Times

Business

Jarin Noshin

Small Business Sentiment Surges Under Biden Despite Lingering Inflation Worries

Inflation Joe Biden Inauguration SurveyMonkey

Amidst persistent concerns about inflation, small business owners are exhibiting a more positive outlook, fueled by increasing optimism surrounding the economy. The CNBC|SurveyMonkey Small Business Confidence Index has surged to its highest level since President Joe Biden assumed office, marking a significant uptick in sentiment among entrepreneurs.

According to the latest quarterly data released Thursday morning, 28% of small business owners view the current state of the economy as "excellent" or "good," representing a remarkable increase of five percentage points from the previous quarter and a substantial jump from 18% year over year. This surge in confidence solidifies the most optimistic outlook recorded by respondents since CNBC and SurveyMonkey began tracking this metric in Q2 of 2022.

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