The 2024 election has left small business owners scrambling to adapt to a new administration and its proposed policies. Despite the uncertainty, a recent survey by Fiverr International Ltd. reveals that nearly 90% of small business owners remain optimistic about the future.
The survey gathered insights and concerns from 1,001 U.S. small business owners to measure business sentiments for 2025. While younger generations like Gen-Zers express high levels of optimism at 89%, older generations, particularly Baby Boomers, remain skeptical, with 41% feeling pessimistic about the future. The economy remains the top concern, with 55% of owners citing rising costs as a primary issue for 2025.
Inflation and fears of an economic recession are particularly pressing for sectors such as manufacturing at 64%, healthcare at 62%, and retail at 59%. The new administration’s proposed policies on tariffs and taxes have many businesses preparing to adapt.
Small business optimism amid uncertainties
72% of surveyed small businesses believe tariff policies will impact their operations, and 84% think the new tax structure will affect their businesses. Workforce dynamics are also a significant concern, with the administration’s workforce policies seen as important by 76% of business leaders. 27% of small businesses view hiring talent as a major hurdle, and nearly a quarter at 24% are concerned about labor shortages and filling critical skill gaps.
To address these challenges, small businesses are prioritizing marketing and growth services. Almost 2 in 5 owners at 39% are focusing on reaching new audiences, and a third at 33% are investing in new technologies such as AI and automated processes. There is also a growing movement towards freelancing, providing the flexibility and agility needed to tackle future challenges.
This synergy between small business owners and freelance professionals will be crucial for navigating an uncertain business landscape and capitalizing on new growth opportunities. The findings underscore a cautious yet optimistic outlook among small business owners as they adapt to the new administration’s policies and prepare for 2025. Economic concerns, workforce strategies, and investment in technology will be key areas of focus as they navigate the post-election landscape.
