Small Businesses Owners Still Facing Challenges
Small Businesses Owners Still Facing Challenges
Despite an improving economy, small business owners are still facing challenges. The data points that these business owners provide is something that should not be ignored.
There are more than 30 million small businesses in the United States, as reported by the Small Business Administration. It’s worth noting that small businesses make up approximately 99% of all businesses in the country. Moreover, these establishments employ nearly half of all Americans, equating to around 60 million individuals working for smaller companies.
Are Businesses Owners Feeling More Optimistic?
On Tuesday, the NFIB’s Small Business Optimism Index increased 1.6 points in June to 91.0, however, it is the 18th consecutive month below the 49-year average of 98.
When analyzing the top concerns of small business owners, both inflation and labor quality are tied for the first place, with approximately 24% of owners reporting each as their single most important problem.
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