A recent report from the U.S. Chamber of Commerce and MetLife shows an optimistic outlook among small businesses for a revenue boost in 2025. The Small Business Index report, which sampled 750 small business owners and operators, indicates that 72 percent of small businesses expect revenue growth next year.
The optimism stems from small business owners’ belief that Donald J. Trump‘s election as the 47th President of the United States will benefit the economy. “The growing optimism among small business owners since the beginning of the year is a positive sign as we move into 2025 and potentially points to increasing opportunities in the new year,” MetLife vice president Bradd Chignoli said in a statement. He added: “As more and more employers look to increase investment and staff size, it is important to take advantage of the resources available to them, such as voluntary benefits, which can help strengthen their company’s culture and help attract and retain new talent.”
Inflation remains a top issue for many small business owners, though 32 percent of owners report improvements in the U.S. economy compared to 2023.
Red tape is another significant issue, with 51 percent of respondents indicating that licensing and permits hinder their growth. Consequently, 47 percent spend considerable effort on regulatory compliance.
President-elect Trump is indicating he will use the Congressional Review Act to end many of the Biden-era regulations in the immediate days of his presidency and work to roll back others over the course of his term in office. Elon Musk and Vivek Ramaswamy will also lead an effort dubbed the Department of Government Efficiency (DOGE) to make the government work better for citizens.