Just like rest of nation, U.S. small businesses at a crossroads [Video]

Last week, the Federal Reserve slashed interest rates for the first time in over four years, signaling a potential uplift for stocks and Wall Street. But what does it mean for the backbone of America, our small businesses? 

A new CNBC|SurveyMonkey study fielded just before the Fed announced its first rate cut, which was anticipated — though the exact size of the cut was not — offers a glimpse into the minds of these entrepreneurs. The quarterly snapshot of Main Street businesses reveals a mixed bag of cautious optimism alongside lingering concerns about inflation and rising costs. With a divisive presidential election on the horizon, the uncertainty is palpable.

Four in ten (38%) agreed that inflation continues to be the biggest risk to their business. This is nearly three times higher than the next highest risks, consumer demand (13%) and interest rates (10%).

Nonetheless, the anticipated interest rate cuts also sparked a surge in confidence. …