8/10/2023 0 Comments Small business optimismThis quarter, inflation is among the top cited concerns for small business owners (23%), along with revenue (26%) and COVID-19 safety/compliance (21%). Inflation now a top concern for small business ownersĪmid the optimism, however, increasing concern for inflation is a signal that things are far from normal-and is making for a difficult holiday season for many small businesses. “Addressing these challenges will be key to sustaining Main Street’s optimism and the nation’s economic recovery.”Īdditionally, 62% of small businesses say their business is in good health, up from 55% last quarter, while those who say their business is in very good health is 30% now compared to 20-23% throughout 2021. “Small business owners’ optimism is plowing through economic uncertainty, but they now face new obstacles with rising inflation, labor shortages, and supply chain challenges,” said Tom Sullivan, Vice President for Small Business Policy at the U.S. More than four in ten (42%) say they plan to increase investments in their business in the coming year-an increase of 13 percentage points from last quarter. More than three in four (77%) small business owners are optimistic about the future of their business, according to the poll taken October 13 - 27, 2021, and released today.ĭespite ongoing labor shortages, 38% of small business owners plan to hire more workers next year, up from 28% last quarter, and the highest mark for this measure since the Index launched in Q2 2017. Chamber of Commerce Small Business Index. Small business owners’ optimism around hiring and investment plans led to a pandemic-era high score of 63 for the MetLife and U.S. At the same time, 74% of small business owners are concerned about the impact of inflation
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