A national survey found the smallest business owners are feeling less confident as they close out the year. Inflation, tariffs and shifts in consumer spending are some of the reasons why.

Melissa Fabian opened Simply Nourished Market & Mercantile four years ago in Mason City, Iowa. Shoppers can find organic produce and grass-fed lamb from nearby farms and ceramic pans made across the border in Minnesota at the brick-and-mortar shop.

“We are built upon the backbone of supporting local first,” Fabian said. “So, when you walk into our store, you're really going to see a variety of Iowa and Midwest products.”

But 2025 has been a tough year for Fabian and other small business owners.

“We’ve definitely seen a downturn in customers walking through our door,” Fabian said.

A national survey

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