Small Business Confidence: The View from Main Street

For the past few years, the National Main Street program has been publishing semi-regular surveys that cover the state of Main Street business.  I find them very useful, and the latest version, out this week, is no exception.

The Spring 2024 Main Street Small Business Survey reports on small business inputs from nearly 1000 business owners operating in 46 states.  Main Street businesses are slightly less bullish than they were in Fall 2023, offering some evidence of a potential slowdown in business activity.  The survey queried business owners about their capital needs, asking them for how much capital they would seek and how they would use it if they could easily access outside funds. Based on their responses, capital needs are not massive.  Fifty-nine percent of respondents noted that they needed less than $25,000, which they would most likely use to purchase equipment or inventory or to upgrade their business space.  As we noted in our latest EntreWorks Insights newsletter, crowdfunding can and should be one tool that can help Main Street businesses access these relatively small capital infusions.