The entrepreneur 500 respondents small business owners across the country to ask how they feel about their business and current events.
Most reported a deep interest in presidential elections: Most (81%) say they follow the news closely and 45% report daily monitoring. But only 40% believe and expect that the policies of the next president can improve their business.
In fact, 39% of small business owners don't believe this any Helpful policies will be passed next year – and 15% of Democrats and Republicans believe so government policy they cannot materially improve their business at all. (Independents were even more pessimistic, with 29% saying the government can't help them.)
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that pessimism could be driven by the economy as a whole: A majority of respondents (70%) say they are worried the U.S. will enter a recession in the next two years. In fact, stressed entrepreneurs are losing an average of seven hours of sleep per week worrying about the state of their business.
So where are small business owners feeling optimistic? Interestingly, the answer is in something that politicians are currently discussing regulations for: artificial intelligence.
A majority (74%) of small business owners report feeling optimistic about artificial intelligence, with 28% saying AI is helping their business become more efficient, 27% saying AI will create new business opportunities, and 19% saying that HE is saving them money.
Optimism about AI falls along generating lines: 84% of millennial business owners see AI as helping their business in some way, while only 46% of baby boomer owners say the same.
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As AI has gained prominence, other web tools have begun to change: Google has adjusted its algorithms to favor forums like Reddit and Quora, X (formerly Twitter) has prioritized viral videos and more. Although this is causing some impact for small business owners, 60% say these changes have not significantly affected their businesses.
The entrepreneurThe survey of 500 small business owners was conducted in partnership with Speaker research in August. For the full results of our survey, click here.