Small businesses overwhelmingly say ‘Bidenomics’ is BAD for the economy at 61% and Joe Biden is NOT helping them climb out of rising inflation in dire poll for president heading into campaign swing

Small business owners say ‘Bidenomics’ is bad for the economy and won’t help the country overcome inflation, a sign of trouble for President Biden, who is struggling to get his message across ahead of the election from this year.

The Job Creators Network Foundation Small Business survey, obtained exclusively by DailyMail.com, shows that small employers’ prospects for the U.S. economy are at a fourteen-year low.

According to the survey of 400 small business owners, 61 percent say Joe Biden’s signature “Bidenomics” plan is “bad for the economy.” And only 26 percent say the president’s plan is helpful in the current environment.

That spells trouble for the president, whose 2024 re-election campaign is largely focused on marketing his “Bidenomics” economic recovery plan.

And as many as 76 percent say they have a negative view of whether Joe Biden’s job performance is helping small businesses — while just 22 percent say they have a positive view.

Additionally, only 24 percent have a favorable view of U.S. economic conditions, and 80 percent say the costs of running their businesses have increased under the Biden administration.

Finally, 27 percent said the economy is moving in a positive direction, but a striking majority of 51 percent said it is getting worse.

The president’s 2024 re-election campaign is largely focused on promoting his ‘Bidenomics’ economic recovery plan down the road

Elaine Parker, president of JCNF, told DailyMail.com that the survey results show it’s “an unfortunate new year for America’s small businesses.”

She said small business owners’ view of the national economy is “nearly at an all-time low,” with only a quarter believing U.S. economic conditions are favorable.

“Despite the Biden administration’s claims, Main Street appears to be in for a difficult 2024,” Parker continued.

On Thursday, it was reported that inflation rose to 3.4 percent in December – above economists’ forecasts – raising fears that the Federal Reserve could avert interest rate cuts this year.

The consumer price index (CPI) was boosted by housing construction, which accounted for more than half of the monthly growth, the Labor Department said. Food prices rose only 0.2 percent between November and December.

Overall, prices rose 0.3 percent from November — when annual inflation was 3.1 percent — and remain well above the Fed’s target of 2 percent.

Economists had forecast that annual inflation would rise slightly by 0.1 percent to 3.2 percent by the end of the year. The above-expected rise means an expected rate cut in March is now unlikely, experts said.

Alfredo Ortiz, president and CEO of Job Creators Network, said the CPI report confirms the concerns of small business owners.

“This high inflation is on top of the historic inflation that occurred during the first two years of Biden’s presidency. As a result, everyday Americans and small businesses are facing a cost-of-living crisis,” Ortiz told DailyMail.com.

“Today’s inflation numbers show that there is no relief in sight, and the nation is moving in the wrong direction. The resurgence of inflation is a direct result of the reckless spending of the Biden administration and Congress.”

The Small Business Administration released new data showing a record 16 million new business filings under the Biden administration.

The agency says it points to how Biden’s Investing in America agenda has fueled this small business “boom.”

The SBA has helped “fuel and sustain this boom by closing gaps in access to capital, expanding the reach of underserved entrepreneurs, and strengthening competition both at home and abroad,” the statement said Thursday in a press release.

President Biden welcomed the report, saying in a statement that the boom “has not been an accident” but rather a result of his administration’s strategy.

That includes supporting entrepreneurs, “helping small businesses access the resources they need to thrive, and promoting competition to level the playing field.”

And as many as 76 percent say they have a negative view of whether Joe Biden’s job performance is helping small businesses — while just 22 percent say they have a positive view.

Joe Biden has seen his slim lead in national polls disappear since the middle of this year. Donald Trump also leads a series of swing states that will likely determine the outcome

80 percent say the costs of running their businesses have increased under the Biden administration

Market reaction to the news was minimal Thursday morning. The S&P 500 traded close after the release and was up about 0.2 percent before the earnings release.

The survey results come as President Biden and his surrogates ramp up their campaign swings — including by touting “Bidenomics.”

An exclusive poll for DailyMail.com published last week shows Biden has seen a two-point lead turn into a three-point deficit in a head-to-head matchup compared to GOP front-runner Donald Trump.