Morale is at a low point among small business owners: 88% do not trust the government

16%. That's the number of very small business (TPE) leaders who are optimistic about the overall business climate in France. This result is one of many findings listed in the quarterly Fiducial barometer (a shareholder of Lyon Capitale) conducted by IFOP among very small businesses. This survey notably addresses "employment, morale, and the health of businesses." It's worth noting that in the Rhône department, 98.5% of all businesses have fewer than 20 employees, and 99.8% of businesses in the Rhône have fewer than 50 employees. Nationally, if we combine very small businesses, SMEs, and micro-enterprises, they represent… 99.9% of all businesses (INSEE, 2024).

This barometer, published in October, closely examines the morale of small business owners in the face of the political climate. Looking at the overall picture, 54% of small business owners are pessimistic about their own business. This represents a 5-point drop compared to the previous quarter.

But how did this pessimism take hold? It's largely due to the lack of trust among small business owners in the current government. In fact, 88% of them feel they don't trust it. This is a historically low figure. Only the Hollande-Cazeneuve duo obtained such a low score, back in 2016. As a direct consequence of this lack of confidence in the executive branch, 67% of small business owners might reduce their investments given the current political situation, and 56% would be forced to reduce their workforce or refrain from hiring.

However, 58% of small business owners believe that efforts are needed to reduce public debt. Interestingly, 12% believe that businesses should bear the brunt of the burden, while 41% think it should fall on the "1% of the population with the highest income or wealth." In any case, a climate of anxiety prevails in the small business sector.