Yeah, Baby! Small Businesses Feeling the Economic Shag-Carpet Burn!

Is the Economy Austin Powers or Fat Bastard?

Groovy baby! It's Austin Powers here your International Man of Mystery bringing you the lowdown on the economic situation. And let me tell you it ain't all shagalicious at the moment! It seems that ever since the second Trump administration rolled into town the economic optimism has gone from 'Yeah baby!' to 'Oh behave!' real quick. Small businesses are feeling the pinch and they're not afraid to say it. Are we looking at Austin Powers or Fat Bastard? Only time will tell...

Not so Groovy Baby! Business Confidence Takes a Dive

According to the latest CNBC|SurveyMonkey Small Business Survey only 30% of small business owners think the economy is excellent or good. That's a far cry from the 39% who felt the same way last quarter baby! And get this: a whopping 70% believe we're heading straight for a recession. That's enough to make you lose your mojo! Even those uptight Republicans are getting a little twitchy with nearly half of them thinking a recession is on the horizon. It's like a bad trip man!

Trump's Presidential Package: More Like a Pandora's Box!

Now let's talk about the big cheese himself Donald Trump. A groovy 51% of small business owners disapprove of his job as president. That's a significant jump from his last quarter in office back in 2020. Small business confidence is lower than a snake's belly baby except during the peak of the Covid crisis. And these proposed tariffs? Brands like Pandora Mattel and even Microsoft are warning about price increases! It's enough to make you say 'Smell my cheese!' But seriously it's not good news for the average Joe.

Tariff ic! Small Businesses Feeling the Squeeze

These tariffs man they're like Dr. Evil's latest scheme! A massive 51% of small business owners think changes in trade policy will negatively affect their business. Only a measly 21% think it will be a good thing. Overall 66% either have been or expect to be impacted by these tariffs. Tariffs are now a major concern up from 10% last quarter to 17% with inflation and consumer demand leading the stress factors. It's enough to make you do the Austin Powers Frug!

SOS! Chamber of Commerce to the Rescue?

The U.S. Chamber of Commerce is like our very own Vanessa Kensington trying to bring some order to this chaos. They're "inundated by small business requests for information for relief" from these potential tariffs as Suzanne Clark told CNBC. They're even asking the White House to automatically lift tariffs on small business importers. But will the White House listen? That's the million dollar question baby!

Stress Baby! That's What It's All About!

All this tariff talk is giving small business owners the heebie jeebies! Sixty percent are stressed about their business finances and 63% are stressed about their personal finances. Inflation is the main culprit but tariffs are a close second. Even Fed Chair Jerome Powell is warning that these tariffs could lead to slower economic growth and higher inflation. This trade uncertainty could drive you bananas. It's enough to make you scream 'Yeah baby!'