Small business owner confidence is waning in 2024 as owners look to an uncertain economy. What’s behind that concern, and how are they preparing for the coming year?
The annual Truist survey of small business owners, conducted in February 2024, asked 844 owners (annual revenues between $100,000 and $10 million) about their plans for their businesses for 2024.
Key takeaways
Small business owners surveyed told us they’re:
- Concerned about inflation, rising costs, and the economy
- Addressing inflation through price increases and spending cuts
- Weighing the possibilities and perils of artificial intelligence (AI) technology for their businesses
- Looking to growth opportunities internationally
- Retaining staff not just with pay, but with perks as well
- Taking action to achieve work-life balance
Find out more about what small business owners expect in 2024.