Small business owners have some reasons to celebrate: In a post-quarantine environment, local economies are starting to bounce back thanks to increased consumer spending. But there are reasons to be cautious, too: rising operational costs from inflation, the state of the economy, and supply chain delays are just a few of the potential worries for entrepreneurs. that highlights challenges and opportunities facing these small business owners right now.
Bank of America's report shows that, over the next 12 months, 83 percent of business owners plan to obtain funding for their business. Even though the United States is in the midst of a labor shortage, hiring plans are up significantly, reaching their highest levels since 2016. Over half of the women surveyed felt they had to work harder than their male counterparts to succeed, and around 29 percent believed that they would never have equal access to capital.