Charts: U.S. SMB Trends Q4 2023

This collection of charts provides a curated summary of Morning Consult’s proprietary Economic Intelligence data on small- and medium-sized businesses. The complete report is available for Morning Consult Economic Intelligence clients on our platform.

Small- and medium-sized businesses ended the year on a high note. Sales growth notably rebounded relative to Q3, and companies are increasing hiring and planning on increasing investment as stronger economic conditions and easier access to financing are expected to prevail next quarter and beyond.

Chart Pack highlights:

• Reported and projected sales growth rebounded in Q4, as did the share of SMBs that are expecting business conditions to improve.
• More SMBs reported easier access to loans and financing this quarter and expect conditions to ease further in Q1 2024.
• Difficulty finding qualified employees fell from No. 2 to No. 3 in terms of the biggest challenges facing businesses, with SMBs increasing headcount over Q4 and an increasing share plan to continue expanding through the next quarter.