Another day, another tariff tale. 🪄 If you’ve been keeping up with our articles, you should be an armchair expert by now! Who needs an economics degree (or student loans)? 🤓
In this episode of Tariff Town, we’re covering a new survey that asked American small business owners how they feel about what’s going on. Here’s a recap of the findings. 👇
Here’s Five Fast Facts on how small businesses feel about tariffs:
- 📉 Come Sale Away - A recent survey polled U.S. business owners between March 22 and April 1 for their take on all things tariffs. Results showed that 44% of small and medium business owners expect reduced sales. Out of those folks, 13% say they also expect a significant drop in revenue.
- 💰 Keystone Krew - Out of all the states surveyed, PA had one of the largest percentages of business owners worried about a loss of revenue. Roughly 52% of PA small biz owners were concerned about how tariffs would hurt their bottom line, up by 41% since March. Right now, 25% of small businesses say tariffs have already started tanking sales.
- 🌅 Sunny Side Up - On the flip side, 38% of surveyed U.S. business owners don’t think tariffs will impact them. While many believe there will be some short-term pain, they also hope that this temporary wound will lead to a revival of American industry, better supply chain management, and more benefits for the middle class.
- 👎 All Time Low - Digging deeper into tariff concerns, more than 50% of small businesses surveyed say they won’t be able to lower prices with suppliers to offset the increase in cost. On top of that, 20% say there’s no American-based supplier options for them to turn to.
- ⏩ Future Forward - When asked about their future outlook, 68% of those surveyed believe uncertainty around trade policy will last all of April. Around 42% believe it’ll stick around for the rest of 2025.
🔥Bottom line: Life is a bumpy ride here in Tariff Town. Each day brings a brand new adventure. Hey, everything’s better when you can crack some jokes, right? Wondering how tariffs and other Trump policies could impact the housing market? Before you hit those open houses, check out this article and get schooled.
Will the Trump-era tariffs impact your small biz?
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