Tariffs Concern Minority of Small Business Owners

As the U.S. government goes back and forth with China, Mexico, and Canada on new trade policies, some small business owners are concerned about the potential financial fallout.

A new survey from Alignable, North America's largest online small business networking platform, reveals that 30% of small business owners anticipate revenue losses due to proposed tariffs with 15% expecting significant declines. 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.

These insights are based on 3,718 responses from randomly selected small business owners polled from Jan. 7–31.

"Small businesses are already navigating a financial minefield—rising costs, inflation, and economic uncertainty," Alignable's CEO Eric Groves said. "Now, the threat of new tariffs could be the breaking point for many."

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:

• Architecture/interior design (48% expect revenue losses)
• Print/copy services (43%)
• Technology (39%)
• Health/wellness and arts/music (38%)
• Retail (34%)
• Restaurants and marketing/advertising (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.

To see the full survey report, go here.