Three Main Street America Staff members standing in front of a mural in Marion, Iowa.

Marion, Iowa © Tasha Sams

About

We work in collaboration with thousands of local partners and grassroots leaders across the nation who share our commitment to advancing shared prosperity, creating resilient economies, and improving quality of life.

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Two community members in Emporia Kansas pose with a sign saying "I'm a Main Streeter"

Emporia, Kansas © Emporia Main Street

Our Network

Made up of small towns, mid-sized communities, and urban commercial districts, the thousands of organizations, individuals, volunteers, and local leaders that make up Main Street America™ represent the broad diversity that makes this country so unique.

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Dionne Baux and MSA partner working in Bronzeville, Chicago.

Chicago, Illinois © Main Street America

Resources

Looking for strategies and tools to support you in your work? Delve into the Main Street Resource Center and explore a wide range of resources including our extensive Knowledge Hub, professional development opportunities, field service offerings, advocacy support, and more!

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People riding e-scooters in Waterloo, Iowa

Waterloo, Iowa © Main Street Waterloo

The Latest

Your one-stop-shop for all the latest stories, news, events, and opportunities – including grants and funding programs – across Main Street.

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Woman and girl at a festival booth in Kendall Whittier, Tulsa, Oklahoma.

Kendall Whittier — Tulsa, Oklahoma © Kendall Whittier Main Street

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Join us in our work to advance shared prosperity, create strong economies, and improve quality of life in downtowns and neighborhood commercial districts.

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Three Main Street America Staff members standing in front of a mural in Marion, Iowa.

Marion, Iowa © Tasha Sams

About

We work in collaboration with thousands of local partners and grassroots leaders across the nation who share our commitment to advancing shared prosperity, creating resilient economies, and improving quality of life.

Overview Who We Are How We Work Partner Collaborations Our Supporters Our Team Job Opportunities Contact Us
Two community members in Emporia Kansas pose with a sign saying "I'm a Main Streeter"

Emporia, Kansas © Emporia Main Street

Our Network

Made up of small towns, mid-sized communities, and urban commercial districts, the thousands of organizations, individuals, volunteers, and local leaders that make up Main Street America™ represent the broad diversity that makes this country so unique.

Overview Coordinating Programs Main Street Communities Collective Impact Awards & Recognition Community Evaluation Framework Join the Movement
Dionne Baux and MSA partner working in Bronzeville, Chicago.

Chicago, Illinois © Main Street America

Resources

Looking for strategies and tools to support you in your work? Delve into the Main Street Resource Center and explore a wide range of resources including our extensive Knowledge Hub, professional development opportunities, field service offerings, advocacy support, and more!

Overview Knowledge Hub Field Services Government Relations Main Street Now Conference Main Street America Institute Small Business Support Allied Member Services The Point Members Area
People riding e-scooters in Waterloo, Iowa

Waterloo, Iowa © Main Street Waterloo

The Latest

Your one-stop-shop for all the latest stories, news, events, and opportunities – including grants and funding programs – across Main Street.

Overview News & Stories Events & Opportunities Subscribe
Woman and girl at a festival booth in Kendall Whittier, Tulsa, Oklahoma.

Kendall Whittier — Tulsa, Oklahoma © Kendall Whittier Main Street

Get Involved

Join us in our work to advance shared prosperity, create strong economies, and improve quality of life in downtowns and neighborhood commercial districts.

Overview Join Us Renew Your Membership Donate Partner With Us Job Opportunities
People walk along a sidewalk and a woman standing near a sign promoting a coffee business waves; bright red chairs offer seating along the exterior facade of the building.

The Dalles, Oregon © Alicia Gallo

In late spring, the Main Street America Research team launched the latest in our series of small business surveys. We heard from 996 small business owners in 46 states plus Washington, D.C. (A big thankful shoutout to North Carolina, Virginia, Georgia, Indiana, Texas, and Oregon for rallying their small business owners.) As is normally the case with our surveys, we heard from very small businesses: 40 percent of all businesses represented here have only one full-time employee, and more than three-quarters have fewer than 5 full-time employees. Retail and food and beverage businesses represent 62 percent of the sample, and professional and personal services represent another 14 percent of respondents. 

These surveys have shown us that the pandemic didn’t slow down Main Street entrepreneurship, as nearly 30 percent of respondents represented businesses that had launched since 2020. At the same time, we continue to hear from longstanding local businesses as well. Forty-two percent of respondents had been in business for ten years or more, and about 1 in 8 respondents represented a business that had been operating for 30+ years.

Main Street is a Network of Manufacturers and Makers

We have long been keen to understand — and excited to celebrate — small-scale manufacturing efforts on Main Street. In this survey, we sought to understand just how common Main Street makers really are. According to the data, approximately one-third of all Main Street businesses indicated that they manufacture a unique product, sold either direct to the consumer or through another business. In our downtowns and neighborhoods, folks are producing custom jewelry and apparel, baked goods, beer, bath and skincare products, roasted coffee, candles, art, and other goods. 

Word cloud showing the products that are produced on Main Streets

Main Streets manufacture many products locally, including food, beauty and skincare, art, and more. © Main Street America

Currently, our best estimate indicates there are about 175,000 businesses in Main Street districts throughout the network. Based on the data in this survey, that suggests there are between 55,000 and 60,000 makers and small-scale manufacturers in Main Streets across the U.S.

Small Business Confidence Falls Slightly

We have been monitoring small business owners’ confidence in their business success over the past four Small Business Surveys with this question: As you think about the next three months, how confident are you that your business will perform successfully?” We ask business owners to answer with a number, where 0 indicates that they are not at all confident” and a 10 indicates they are extremely confident.” 

Chart showing business confidence levels from Small Business Surveys from Fall 2022 to Spring 2024.

The Main Street America Research team has monitored small business owners’ confidence in their business success since Fall 2022. © Main Street America

In the current survey, we see a slight dip relative to previous surveys. The average value from the Spring 2024 survey was 7.5, compared to 7.7 in Fall 2023 and Spring 2023, and 7.6 in Fall 2022. In the current survey, 52 percent of respondents indicated a confidence level of 8 or higher. In Fall 2023 and Spring 2023, 61 percent of respondents had that level of confidence, and in Fall 2022, 59 percent indicated an 8 or higher. 

We suspect that the diminished confidence values may come from uncertainty due to a variety of factors: the election, high interest rates, and continuing inflation impacting some segments of the economy. But there is also indication in the data that small businesses are facing real slowdowns. In the last two surveys, we asked whether small business owners generated profit, broke even, or operated at a loss over the previous 12 months. In the Spring 2024 survey, 42 percent of respondents had generated a profit and 21 percent operated at a loss. In comparison, in Fall 2023, 51 percent had generated a profit and 15 percent had operated at a loss. This is a trend we will continue to monitor in future surveys. 

Small Business Owners Seek Support from Main Street in 2024

Small business support is an important goal for many Main Street organizations. As we conduct these surveys, we periodically ask what types of support would be of greatest interest to business owners. 

In the Spring 2024 survey, grant opportunities were the top choice, with 75 percent of all respondents expressing interest. Fifty-nine percent indicated that they would be interested in appearing on a national map and directory of Main Street businesses. Forty-four percent, meanwhile, expressed interest in learning more about the emerging best practices of other small business owners, and 36 percent were interested in either technical assistance with promoting their businesses online or joining an online network of small business owners for peer-to-peer support. 

Row chart showing the types of support that small business respondents are interested in receiving from the Main Street network.

Respondents express an interest in grant opportunities, inclusion on a national directory of Main Street businesses, and learning about emerging best practices. © Main Street America

Interestingly, we see some disparate levels of interest in support for selling products on an e‑commerce platform for Main Street businesses, depending on whether the business owner respondent produces their own goods and products. Thirty-one percent of makers and manufacturers said they would like help selling their goods in this way, compared to 13 percent of business owners who do not produce their own wares. 

Small Capital Investments Would Make a Big Difference

Main Street leaders who regularly engage with small businesses and think about economic vitality would likely agree that capital investment is an enormous barrier and a critical challenge for small business owners. In this survey, we asked, If you could access affordable capital to grow your business, how much would you need?” 

  • Two charts showing how much affordable capital respondents need: the top chart conveys that 27% need less than $10,000; the bottom chart reports that 59% need less than $25,000.

    Over 80 percent of small business respondents need less than $25,000 in affordable capital to grow their businesses. © Main Street America

  • Two charts showing what aspects respondents would invest capital into: the top chart conveys that 56% indicated inventory, equipment, machinery, raw materials; the bottom chart reports that 46% indicated physical improvements to business space.

    Small business owners report needing capital to invest in operations and physical improvements to business spaces. © Main Street America

Seventy-two percent of respondents indicated a need for capital. But of those who expressed this need, 27 percent indicated an amount less than $10,000, and 59 percent indicated they would need less than $25,000. On a subsequent question, 56 percent of respondents indicated an interest in using that capital to invest in inventory, equipment, machinery, and raw materials, and nearly half (46%) said they would use the capital to invest in physical improvements to their business’s physical space.

It is sometimes easy to assume that the amount of investment that small businesses seek is huge. This data indicates that Main Street businesses are not looking for bank financing or anchor investments in businesses. Local Main Street organizations could likely provide a substantial boost to local businesses by raising small amounts of capital to give away in support of their local entrepreneurs. Crowdfunding campaigns, pitch competitions, and entrepreneurial ecosystem building could all make a difference in supporting small businesses with small investments. 

Conclusions

The results of the Spring 2024 Small Business Survey suggest that Main Street leaders can effectively support business owners in their districts in multiple important ways, whether financially through targeted small grants or loans, or via marketing channels by promoting businesses on local directories or broader Main Street maps. Recognizing the prevalence of local makers” selling distinctive goods can be tied into district branding or Main Street-wide marketing efforts. The tick down in business owner confidence, however, is something we need to monitor. 

We are grateful to the Main Street Network for helping us reach out to entrepreneurs across the U.S. with our small business surveys. We are eager to support local Main Street programs and local businesses in new ways, and these surveys are instrumental in helping us make the case for new grant programs, new tools, and new partnerships to strengthen local economies and thriving districts. 

We encourage you to follow our social media accounts and keep an eye on our email newsletters to hear about upcoming small business surveys that will help us monitor trends and deepen our understanding of the needs within the Main Street Network. You can subscribe to receive updates here >