02/07/2024

Americans Trust Small Businesses More Than Any Other Institution

A new Pew survey found they bested schools, churches and the military

Entrepreneurs, take a bow. Among all U.S. institutions-including the military, religious organizations, K-12 schools and colleges, Americans have the most positive view of small businesses, and the vote was not even close.

In a recent survey conducted by the Pew Research Center, 86 percent of people said small businesses have a positive effect on the way things are going in the country these days, up from 80 percent in October 2022. Only 12 percent of respondents believe small businesses have a negative impact. The survey also found a broad base of support for small businesses across party lines. Among Democrats, 88 percent said small businesses had a positive effect on the country's trajectory. In a rare moment of bipartisanship, 87 percent of Republicans agreed.

That net favorability rating of 74 percent is in sharp contrast to how Americans view large corporations, as well as financial institutions, which received overwhelmingly negative responses in the survey. The majority of both Republicans and Democrats disapprove of large corporations, which received 26 percent and 32 percent support, respectively. Over the past five years as Donald Trump continued to preach a more populist, working class version of Republican tenets, his party has soured on large corporations. Back in 2019, the majority of Republicans still had a positive view of big business.

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