Key findings of the nationwide survey include: Hopefully, we’ll see things continue to improve in the coming year.” Inflation and unpredictability over the supply chain are driving prices up across the board, from shipping containers to shopping bags.
State-specific data isn’t available, but NFIB State Director Dawn McVea said, “Small business owners are an optimistic bunch, and they’re encouraged to see gas prices ease up from the record high prices we were seeing back in the summer, but we’ve still got a ways to go. “The small business economy is recovering as owners manage an ongoing labor shortage, supply chain disruptions, and historic inflation.” “Going into the holiday season, small business owners are seeing a slight ease in inflation pressures, but prices remain high,” said NFIB Chief Economist Bill Dunkelberg. November’s reading is the 11th consecutive month below the 49-year average of 98. The Small Business Optimism Index rose 0.6 points in November to 91.9. Inflation continues to impact business owners with 32% of owners reporting it as their single most important problem in operating their business, five points lower than July’s highest reading since the fourth quarter of 1979. Inflation remains the top business problem for small business owners.
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