According to a new CNBC/SurveyMonkey poll, president Joe Biden’s approval rating has increased among small business owners.
The survey which took place between Nov. 9-16, showed that the public’s opinion of Biden had widely improved. In fact, his approval rates increased from 41 percent to 45 percent. This is the highest approval rating he has had since January 2021, when he took office. At the time his approval rating was 59 percent.
Among small business owners, his approval rating also increased to 34 percent. This is a welcome change as previously his approval ratings were continuously dropping among this group. Currently, there is also 65 percent that disapprove of his performance in office.
This increase in his approval ratings among small business owners is widely the result of the 83 percent of Democrats who responded to the survey. The percentage of independents was around 31 percent, while those identifying as Republicans made up only 8 percent of responders.
According to most poll responders, the new Republican-led House and Democratic Senate should spend their time trying to combat inflation. Around 60 percent also believe that their business has previously been negatively impacted by government taxes and regulations.
Many business owners are also unsure about the government’s policies on trade and technological innovation with 43 percent of them believing that these trade policies will have a negative impact on their businesses.