A nationwide survey of small business owners finds inflation is their number one concern. NFIB state director Dawn McVea says the impact is real.
“It’s a killing them, they haven’t seen times like this in a while, but it’s affecting everything, it’s just an unfortunate situation right now,” said McVea.
The poll also shows the percentage of business owners expecting conditions to improve over the next sixth months is at its lowest level in the 48-year history of the survey. Aside from inflation, McVea pointed to several other areas of frustration.
“Gas prices are still killing them and on top of that you still have labor shortages,” said McVea.
Forty-seven percent of owners reported job openings that could not be filled.
Forty percent of owners report that supply chain disruptions have had a significant impact on their business.
McVea says business owners have had to keep a watchful eye on their inventory as difficulty in stocking and restocking items has made their ability to operate increasingly challenging.
“You have folks who haven’t been able to get in what they would normally have on their shelves, so that has led to fewer sales,” said McVea.
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