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Nearly 30% of small business owners anticipate revenue losses due to proposed tariffs, with 15% expecting significant declines, according to a new survey from Alignable.
"Small businesses are already navigating a financial minefield—rising costs, inflation, and economic uncertainty," Alignable's CEO Eric Groves says. "Now, the threat of new tariffs could be the breaking point for many.”
Key takeaways:
- In contrast, only 18% foresee any kind of boost in sales, and just 9% predict substantial gains. Meanwhile, 40% believe tariffs will have no impact, and 12% remain uncertain.
- Business owners in Minnesota (40%), Washington (39%), Illinois (35%), California (34%), and Ohio (34%) report the highest levels of concern.
- Meanwhile, industries bracing for tougher times include technology (39%); retail (34%); and restaurants (33%).
- Some sectors like manufacturing and business consulting are more optimistic. In fact, 34% of manufacturers expect to increase their revenue with the proposed tariffs. However, for the vast majority in other sectors, rising costs of materials and supply chain disruptions could have devastating economic consequences.
