Monthly Monitor Results

December 2021

December 31, 2021

SBIQ: 55
Current Conditions Rating: 57.4
Future Expectations Rating: 53.2

Washington, D.C. (January 13, 2022)—Today, the Job Creators Network Foundation (JCNF) released its December Monthly Monitor poll of 500 small business owners. The poll’s Small Business Intelligence Quotient (SBIQ), an index tracking overall small business optimism, dipped 1.5-points to 55 in December after rising during the previous month. Small business owners are feeling less optimistic now that some COVID restrictions are coming back and we are seeing variant cases rising among Americans who are vaccinated. Inflation is also a big issue weighing on their minds.

The December SBIQ reading marked the second lowest small business sentiment level since the survey began in May 2021.

If implemented, the Biden administration’s vaccine mandate for employees at companies with 100 or more workers could exacerbate the situation. Labor shortages are already plaguing Main Street and imposing a “vaccine or weekly testing requirement” will force some workers to quit and make it even more challenging to hire new ones. Only 18 percent of respondents believe an employer-enforced vaccine mandate will help small businesses; 46 percent of small businesses believe some of their employees will quit as a result. The U.S. Supreme Court considered the legality of the mandate last week and will announce a decision soon.

Other key takeaways include:

  • Small businesses are still hurting from COVID. Among those who have suffered, 18 percent say they may never recover. This is even more pronounced among female and minority owned businesses where 33 percent and 38 percent say they may never recover, respectively.
  • Inflation is still the biggest issue on the minds of small business owners with 37 percent saying it’s their biggest or second biggest concern. 70 percent of small businesses say the Biden administration isn’t doing enough to fight inflation and 64 percent of them think the Build Back Better plan would increase inflation.
  • Forty-seven percent of small business owners think the US economy is going in a worse direction compared to only 32 percent who say it’s going in a better direction.

View more polling details and crosstabs hereView historical data here.

Elaine Parker, President of the Job Creators Network Foundation, released the following statement:

“Small businesses are facing an obstacle course of challenges as we begin the New Year. Persistent labor shortages are making it extremely difficult to operate and high inflation is eating into their budgets. And another barrier looms if the Supreme Court fails to act in a challenge brought by the Job Creators Network and other groups. OSHA’s rule that will deputize small businesses as the vaccine police is currently being considered by the high court. If left to take effect, entrepreneurs will face significant compliance costs and an exodus of workers. Small businesses are awaiting a decision with bated breath.”

Poll Results:

Would You Offer Employees Incentives to Get Vaccinated?

Yes
32%
No
54%
Unsure
14%

If Your Business Is Required to Enforce a Vaccine Mandate, Would You Anticipate Having to Fire Unvaccinated Employees?

Yes
32%
No
51%
Unsure
17%

If Your Business is Subject to a Vaccine Mandate, Will You Pass Costs Down to Employees?

Yes
27%
No
51%
Unsure
22%

If Your Business is Required to Enforce a Worker Vaccine Mandate, Will Employees Quit?

Yes
46%
No
38%
Unsure
16%

Should Employers Be The Ones Required to Enforce Worker Vaccines?

Yes
31%
No
54%
Unsure
16%

Do You Support Requiring Your Own Employees to be Vaccinated?

Support
43%
Oppose
52%
Unsure
6%

If the Vaccine Mandate Expanded to Businesses with Under 100 Employees, Would Your Company Suffer? (Respondents Under 100)

Yes
45%
No
44%
Unsure
11%

Do You Support a Vaccine Mandate on Employers with 100 or More Workers?

Support
42%
Oppose
53%
Unsure
5%

Will a Vaccine Mandate Make it Harder to Find Employees?

Yes
61%
No
29%
Unsure
10%

Would Requiring Businesses to Verify a Worker’s Vaccine Status Help or Hurt a Small Business?

Help
18%
Hurt
41%
No Impact
38%

Would Future Lockdowns with Business Restrictions Help or Hurt Small Businesses?

Help
15%
Hurt
72%
No Impact
12%

Are You Concerned About Covid Cases Causing Government Mandates That Will Impact Businesses?

Concerned
82%
Not Concerned
19%

Is the Biden Administration Doing Enough to Help Supply Chain Problems?

Yes
20%
No
69%
Unsure
11%

Is the Biden Administration Doing Enough to Combat Inflation?

Yes
19%
No
70%
Unsure
11%

Will Biden’s Build Back Better Bill Increase Inflation?

Increase A lot
33%
Increase Somewhat
31%
Stay the Same
20%
Decrease Somewhat
9%
Decrease A Lot
3%
Unsure
4%

What Do You Think About Applying a 5% to 8% Tax Surcharge on People Who Make $10 Million or More? (Includes Many Pass-Through Businesses)

Support
44%
Oppose
48%
Unsure
8%

Will Biden Administration Tax Increases Help or Hurt Small Business?

Help
20%
Hurt
56%
No Impact
20%