FundKite Survey Finds 77% of Small Business Owners Think Inflation Woes Will Remain Unresolved by Year's End

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May 21, 2024, 09:00 ET

Small businesses across the US are uneasy about economic future as the 2024 Presidential Election ramps up

MIAMI, May 21, 2024 /PRNewswire/ -- FundKite, a leading fintech funding platform that has processed over 200,000 small businesses applications across the country, today released the FundKite 2024 SMB Election Year Sentiment Report.

The latest insights detail the sentiment of small business owners across the United States, analyzing their thoughts on the economy, the primary issues impacting their business ahead of the 2024 US Election, and how the outcome of the Election could impact future growth strategies.

Some key findings from the hundreds of small business owners surveyed include:

Majority (77%) of small business owners do not believe inflation pressures will be resolved by the end of 2024.
Over half (68%) of small business owners believe the current administration is failing at supporting their business needs.
65% of small business owners believe the Trump Administration will be most beneficial for their business.
43% of small businesses owners said they are unsure if the US will enter a recession by the end of 2024.
Small business owners believe the next administration should focus on cutting interest rates (61%), improving access to funding for small business owners (58%), and tax reform (58%).

"Small businesses are the lifeblood of our country and they need help to continue thriving. It is evident that merchants across America are still concerned about inflation and are worried about the future," said Alex Shvarts, CEO of FundKite. "Small business owners are watching the 2024 Presidential Election closely, and looking for clarity and stability before making big investments. Regardless of the outcome, one thing is for certain: small business owners need support from Washington."

To download The FundKite 2024 SMB Election Year Sentiment Report, please visit here.

About FundKite
FundKite is among the fastest-growing fintech companies, introducing a unique approach to the longstanding financing industry. Utilizing a boutique funding style, FundKite provides businesses of all sizes, ranging from local small shops to major global firms, with a flexible array of products and services tailored to fit their individual financial needs. Positioned as one of the fastest-growing firms in the small business funding industry, FundKite offers up to $2,000,000 in working capital for each qualified business.

Learn more at www.fundkite.com.

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SOURCE FundKite