Confidence among CEOs of small and midsize businesses (SMBs) jumped to 100.8 in the fourth quarter of 2024—a 15.7-point quarter-over-quarter increase and the highest score recorded since 2021’s second quarter. More than half of CEOs expect the economy to improve in the coming year, with many optimistic about the new administration and the potential for pro-business policies, reduced regulations, lower inflation, and reduced borrowing costs to drive investment and fuel growth.