Survey highlights TPE challenges

A survey conducted by IFOP for Fiducial among 1,006 small business managers in France reveals that very small enterprises, or TPEs, with 0 to 19 employees are facing significant challenges. The Fiducial TPE Barometer, part of the 85th wave of the Fiducial TPE Conjoncture Barometer (third quarter of 2026), shows that 84% of business leaders cite rising prices as a major obstacle to their growth, while 82% consider energy costs a heavy burden.

Distrust in government measures

The survey also found that 90% of TPE managers do not trust the measures and actions taken by President Emmanuel Macron and his government. This distrust is part of a broader sentiment, with 80% of managers citing administrative procedures, social contributions, and taxation as obstacles, and 80% expressing concern over the uncertainty of the national political and economic situation.

Employment trends decline

On the employment front, only 11% of TPE managers indicate they have hired or plan to hire by the end of September 2026, a rate lower than in previous years. Meanwhile, 10% of managers have eliminated or must eliminate jobs, the highest level recorded by the barometer since the third quarter of 2024.

Political disengagement and fatigue

As the presidential election approaches, the gap between national politics and the daily realities of small businesses is growing. A clear majority of TPE managers, 84%, express fatigue with political and economic news, while 70% believe the increasing number of political candidates and partisan competition hinders the resolution of key issues.

Priorities of TPE managers

When asked about their priorities, TPE managers focus on purchasing power and wages, with 52% prioritizing these issues. Taxation, economic growth, employment, and the fight against unemployment are also cited by 51% of respondents. Other priorities include safety and justice, education and research, the sustainability of the social model and pensions, and reducing public debt.

Support for fiscal and social policies

Business leaders show strong support for budgetary rigor and targeted support for the productive sector. For instance, 87% favor a budgetary golden rule, and 87% support a return to a pension system based on the hardship of work. Additionally, 83% demand a major aid plan for small and medium-sized structures, while 78% approve of a general increase in salaries.

Loss of confidence and financial strain

The accumulation of uncertainties has led to a severe decline in the financial health of TPEs and the morale of their managers. The Fiducial Barometer reports a sharp drop in personal and general confidence indicators, with optimism about the business climate reaching a historically low level of 10%, down 16 points in a single quarter.

Trust in local leaders

Despite the overall pessimism, only one category of public actors retains the trust of entrepreneurs: local elected officials, with 63% believing they can defend their interests and respond to their needs. In contrast, the credibility of parliamentarians and political parties is severely undermined, with only 22% and 15% trust, respectively.