A new report from Alignable found 55% of small business owners say their earnings have been cut in half compared with last year.
Tariffs and the ongoing economic uncertainty are leading to the decline, according to the report.
The report is based on 4,082 responses from randomly selected small business owners surveyed between May 12 and June 3.
Additionally, 51% of owners say customer spending is “much lower” than in 2024.
To combat the revenue loss, owners are ramping up networking, with 45% saying it’s leading to new business opportunities.
Read the full report here.
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