Americans Report Favorable Views On Small Business

Positive views of small business transcend political party, age, and gender.

AMERICANS PREFER SMALL BUSINESS TO BIG BUSINESS
SOURCE: BENTLEY-GALLUP BUSINESS IN SOCIETY REPORT | DATA AS OF 5.15.23
© Callahan & Associates | CreditUnions.com

Across demographics, Americans consistently hold small businesses in higher esteem than big businesses.
  • Americans overwhelmingly prefer small businesses to big ones, according to a survey by Gallup and Bentley University. Overall, 85% of respondents had somewhat or extremely positive views of small business; 42% had favorable views of big business.
  • In an era of political division, this overwhelming approval of small business transcends Republican or Democrat.
  • Small businesses form a small but committed membership core for credit unions. The industry held nearly $160 billion dollars in commercial loans at year-end 2023; that’s 9.9% of the loan portfolio. The average commercial loan balance was $515,819.
  • In a survey by Goldman Sachs, 77% of small business owners reported concern about access to capital. Routine business lending and programs such as small business grants can help credit unions close the funding gap.

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Ampersand
April 15, 2024

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