People’s Confidence in Small Business Still Far Higher Than for Big Business

Gallup Confidence in Small vs Big Business Sept2020Three-quarters of the American public maintain a great deal (38%) or quite a lot (37%) of confidence in small business, per a recent survey from Gallup. This level of confidence has grown from two years ago when about two-thirds of US adults held the same degree of confidence in small business.

The faith Americans have in small business is not shared when it comes to big business. Only about one-fifth of the more than 1,200 US adults surveyed expressed that they have a great deal (7%) or quite a lot (12%) of confidence in big business. This is a drop from those who reported the same level of confidence in 2018.

This can be seen in other Gallup research from earlier this year showing that only about half of Americans have a positive view of big business, with older Americans being more likely than younger Americans to hold this view.

And, while small business appears to hold the highest level of confidence with Americans, other institutions are not faring quite as well. Fewer than two-fifths say they have a great deal (17%) or quite a lot (21%) of confidence in banks, while about one-third say they have a great deal (14%) or quite a lot (18%) of confidence in large tech companies. This is perhaps an indication that people have yet to regain their trust of tech companies after well-publicized breaches and misuse of personal data in the not-so-distant past.

Although, globally, people are displaying a great deal of trust in traditional media, in the US, confidence in certain traditional media institutions is low. Only about one-quarter (24%) of adults report a high trust in newspapers, while only 18% were able to say the same about TV news.

Read more about the confidence levels of other US institutions here.

About the Data: Findings are based on telephone surveys of 1,226 US adults (18+) conducted June 20 – July 24, 2020.

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