Small business optimism nationwide dips in September as inflation remains the single greatest problem in operating a business. National Federation of Independent Business State Director Dawn McVea says sales growth has slowed, leaving owners with limited options for financial relief.
“We continue to see them tell us they’re being squeezed from every direction when it comes to inflation and it’s really affecting their ability to operate in a way that they want to be able to operate.”
Optimism fell by half a point in September to 90.8 marking the 21st consecutive month below the 49-year average of 98.
McVea says the national survey 29 percent of owners report weaker sales have had a significant impact on their business. She says it also found that 43 percent of owners reported job openings that were hard to fill.
“The job quality has always been a challenge for small business owners but we’re trying to keep people coming to work and doing their jobs. Whenever they have that hanging over their head as well on the workforce side of the equation, it’s frustrating.”
Small business owners expecting better business conditions over the next six months deteriorated by six points from August to a negative 43 percent. McVea says owners are pessimistic about future conditions.
“Our optimism index dropped to a four-month low in September because small business owners just don’t see a positive path forward in the coming rest of the year.”
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