Americans trust small businesses far more than large corporations

Five charts to start your day

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CHART 1 • Americans trust small businesses far more than large corporations

At a time when public confidence feels low almost everywhere this chart shows one clear exception. Small businesses are seen as overwhelmingly positive for the country while large institutions, especially banks and major corporations, sit firmly in negative territory.

The contrast is huge. About 86% of Americans say small businesses have a positive effect on the way things are going and only 12% say negative. After that the numbers drop quickly. The military is viewed positively by 60% of adults. Churches and religious organisations sit at 59%, labour unions at 55% and technology companies at 53%. From there the picture turns darker. Public schools and universities split voters almost down the middle. Banks are seen positively by just 37% with 60% saying negative. Large corporations fare worst of all with only 29% saying they have a positive impact and 68% saying the opposite.

Source: Pew

There is a deeper question here about who carries the risk. Workers who feel replaceable, customers who feel taken for granted and citizens who feel unheard will not see soaring stock market valuations as a sign of success. They will see a system that works well for some and leaves everyone else to absorb the shocks. That is probably why they are more likely to trust small businesses more over large corporations.

I have four more charts that dig into these tensions and what they might mean for jobs, markets and business models over the next few years. They are for paid subscribers. If you want the full edition and want to support the work that goes into this newsletter, consider joining.

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