A survey released on Tuesday by the Syndicat des indépendants (SDI), a French organization representing small business owners, shows that 96% of very small business owners in France are pessimistic about the country's economic future, the highest level ever recorded. The quarterly survey highlights worsening business conditions, with 61% of respondents reporting a drop in sales during the third quarter, 71% noting a decline in their net profit, and 66% experiencing reduced cash flow. Marc Sanchez, the SDI's general secretary, said that ongoing economic challenges, including the energy crisis, falling consumer spending, and political uncertainty, have significantly eroded entrepreneurs' confidence. The survey describes a "massive confidence crisis," with 98% of respondents believing France is in an economic crisis and 93% expecting it to continue for some time. The survey also reveals that 67% of business managers prioritize reducing labor costs, but the 2027 budget, announced on Thursday, is seen as largely incompatible with the needs of small businesses. Employer contribution cuts in the budget total 6.6 billion euros, according to the SDI. Sanchez noted that 51% of surveyed business owners earn less than the minimum wage, which has sparked frustration among entrepreneurs. As the 2027 presidential election approaches, Sanchez expressed concern that some candidates' support for small businesses lacks concrete policy proposals. Business leaders have mixed feelings about recent administrative reforms. While 81% have already implemented the electronic invoicing system, which became mandatory in September 2024, 66% see it as an added administrative burden and 58% believe it increases their costs. Only 5% consider it a simplification, and 9% think it saves time. Among those who have not adopted the system, 44% are strongly opposed and refuse to comply, risking fines from tax authorities starting in early 2027. A period of tolerance for non-compliance will end before then, increasing pressure on small businesses to adapt.