Fewer small business owners now than a year ago approve of the job Joe Biden is doing as president. In fact, small business owners are twice as likely to disapprove than to approve of Biden, according to the latest CNBC|SurveyMonkey Small Business Survey, which was conducted April 18-25 among 2,027 small business owners in the U.S.
Biden’s approval among this group hasn’t budged for the past three quarters, but few small business owners have been particularly focused on politics during that time. Instead, for the third straight quarter, inflation dominates concerns on Main Street. In this latest survey, about four in 10 small business owners (38%) report inflation to be the biggest risk to their business right now, at least twice the number who point to supply chain disruptions (19%), labor shortages (13%), or Covid-19 (13%).
About three in four small business owners say they are currently experiencing a rising cost in supplies, a number that has held steady since the fourth quarter of 2021.