That’s the lowest level since December 2012 and the 27th consecutive month below the long-term average of 98.Executive Director of Research Holly Wade.“But this picture seems to have much more to do with inflation,” Wade said.Inflation and labor quality concerns shared top billing for a while. Now, inflation is the clear top concern.
Unfilled job openings have remained high, though hiring plans have dropped to about 2016 levels, she said. Wade said the drop in the Small Business Optimism Index, down 0.9 of a point in March, was predominantly because of the drop in sales expectations.
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Small Business Optimism Hits Lowest Level Since 2012The NFIB's business optimism survey shows that small business confidence has reached its lowest level since 2012 due to concerns about inflation and rising input and labor costs.
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Small Business Optimism Declines to Lowest Level in a DecadeAccording to a new report from the National Federation of Independent Businesses (NFIB), small business optimism declined in March to its lowest level in more than a decade. The NFIB's Small Business Optimism Index decreased by 0.9 points to 88.5, marking the 27th consecutive month with the index below the 50-year average. Small business owners cited inflation as the top business problem, along with managing economic headwinds and labor market challenges.
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The Small Business Administration offers assistance for small biz hurt by Maryland bridge collapseThe Small Business Administration is offering assistance to those affected by the bridge collapse in Maryland. The bridge was a key transportation route in the region. Small businesses in the Mid-Atlantic region will be eligible for low-interest, long-term Economic Injury Disaster Loans of up to $2 million.
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