Small business owners say they face mounting pressure from tariffs — which have exacerbated existing struggles with gaining access to new funding because of policy uncertainty, according to a Goldman Sachs survey released Thursday.

More than a third of small businesses (36%) said they feel negatively impacted by tariffs, with another 38% anticipating adverse effects in the future, the study found.

Of those impacted or expecting impacts, a striking 77% of small business owners attribute their concerns primarily to the uncertainty stoked by President Trump’s tariff policies , the survey found. 4

The survey was done by Goldman Sachs 10,000 Small Businesses Voices — the Wall Street firm’s national advocacy initiative designed to help entrepreneurs engage directly with policymakers

See Full Page