'We made it through.' Small business owners are optimistic, but still face challenges almost two years into the pandemic

For Thompson, raising prices at Spiked Spin isn't an option, because she's trying to remain accessible to her community. Therefore, she's had to make some tough choices as she updates her current studio and plans to open a new one in Atlanta.

Fully 69% of owners believe those issues have negatively affected their bottom line, the Goldman Sachs survey found. Most respondents also believe suppliers are favoring large businesses over small businesses due to the larger volume of their orders.Finding and retaining qualified employees is also a big challenge for small businesses right now.

Among women business owners who have a vaccine mandate, 31% report having difficulty hiring, compared to 43% of those who don't require a vaccine,Despite the past turmoil and potential roadblocks ahead, 77% of small business owners are optimistic about the future of their business, according to the latest Small Business Index report.

Nearly 5.4 million new business applications were filed in 2021, a new record, according to figures from the"It took four months to bend the curve up during the pandemic," Sullivan said. "It's really remarkable.

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