Small Business Owner Confidence Points to Economic Resiliency in the U.S.

Running a business is already an incredibly challenging task, and coupled with an uncertain economy, rampant inflation and high interest rates, small business owners have faced serious difficulties over the past few years. However, despite rising inflation, heightened concerns due to the election year and increased operating costs, many small business owners note that they’re faring well. This confidence could point to the fact that we are on our way out of the downturn and turning the corner towards better economic conditions. In fact, according to KeyBank’s 2024 Small Business Survey, 65% of small business owners feel confident that they could fund their operating expenses with the cash they have in reserve for one month if an unexpected need arose at their business.