Fiverr Survey Reveals Optimism Among SMB Owners Despite Challenges After 2024 Election


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Fiverr Survey Reveals Optimism Among SMB Owners Despite Challenges After 2024 Election

Fiverr Survey Reveals Optimism Among SMB Owners Despite Challenges After 2024 Election 150 150

Fiverr released findings from a survey of 1,001 U.S. small business owners, revealing optimism for 2025 despite challenges stemming from economic policies under the new administration. The research highlights small business concerns about tariffs, taxes, inflation, and workforce issues, while underscoring a growing reliance on freelancing to navigate uncertain economic conditions.

The survey shows that nearly 90% of small business owners remain optimistic about 2025, with particularly high confidence in sectors such as education (92%), finance (89%), and retail (89%).

Eighty-five percent of respondents believe the new administration will improve the economic situation for small businesses, a sentiment shared by both men (85%) and women (83%). Women-led businesses show even greater optimism, with 92% expecting increased revenues in 2025. However, older generations like Baby Boomers are less hopeful, with 41% expressing pessimism compared to 89% of Gen Z leaders who are optimistic.

Economic issues dominate concerns for SMBs heading into 2025, with rising costs, tariffs, and inflation leading the list.

  • 55% of business owners cite rising costs as their primary challenge.
  • 38% fear a potential economic recession.
  • Inflation concerns are particularly high in logistics-heavy industries, including manufacturing (64%), healthcare (62%), and retail (59%).

Women-led businesses face additional hurdles, with 21% identifying equitable access to capital as a key issue. Political instability remains a concern across generational lines, with 31% of Baby Boomers and Gen Z leaders highlighting it as a priority.

Policies on tariffs, taxes, and workforce regulation are expected to significantly impact small businesses in 2025.

  • 72% of respondents say proposed tariff policies will affect daily operations, particularly in HR (87%), retail (80%), and education (80%).
  • 84% report the new tax structure will impact their businesses, with Gen Z (91%) and Millennials (86%) feeling the effects most acutely.
  • Women-led businesses report being disproportionately affected by these policies compared to male-led counterparts.

Small businesses are gearing up for unique challenges in 2025, including skill gaps, regulatory compliance, and DEI (diversity, equity, and inclusion) initiatives.

  • 27% of business owners cite hiring talent as a primary obstacle, alongside gaining access to materials and products.
  • 30% of Gen Z leaders see gaps in critical skills as a significant challenge.
  • 20% of businesses identify the lack of DEI measures as an organizational issue, with women (25%) voicing this concern more frequently than men (18%).

Hiring remains a focal point for small businesses, with 76% indicating that the administration’s workforce policies will impact their operations. Labor shortages and critical skill gaps are key concerns for 24% of owners.

Budget priorities for 2025 include:

  • 39% investing in marketing and growth services to expand customer reach.
  • 33% planning to adopt new technologies, such as AI and automation, to streamline operations.

Image: Shutterstock

This article, “Fiverr Survey Reveals Optimism Among SMB Owners Despite Challenges After 2024 Election” was first published on Small Business Trends

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