Small business gets 95% approval as views of capitalism weaken

Americans view small business far more favorably than big business, 95% versus 35%, according to Gallup polling cited in an Oct. 27 Conference Board report. The contrast complicates the picture of declining confidence in capitalism: enthusiasm for running a business remains stronger than support for the broader economic system.

Positive views of capitalism fell from 61% in 2010 to 55% in 2026. Free enterprise drew favorable views from 77% of Americans, compared with 43% for socialism. Among adults aged 18 to 34, the order reversed for the two economic systems: 57% viewed socialism positively and 43% viewed capitalism positively, the report said.

The Conference Board interprets that divide as concern about access to opportunity rather than rejection of entrepreneurship or competition. It argues that such doubts could influence where people choose to work and whether they pursue business ownership.

Entrepreneurial activity remains strong despite weaker perceptions of opportunity. Nearly one in five US adults is engaged in early-stage entrepreneurship, near historic highs, according to the Global Entrepreneurship Monitor’s 2025/2026 US report, as cited by The Conference Board. Yet the share seeing good opportunities to start a business locally fell to 51.8% in 2025 from 59.3% in 2024.

For schools and employers, the report recommends pairing entrepreneurship coursework with work-based learning, mentorship and opportunities to design and operate businesses. It also calls for examining access to affordable health insurance during the transition from employment to self-employment, identifying potential loss of employer-sponsored coverage as a barrier to business formation.

That recommendation lands against a thin education base. US K-12 entrepreneurship education scored three out of 10 in GEM’s 2025/2026 evaluation, below the threshold considered adequate, according to the Conference Board account.