Survey: Small Business Struggles Continue

(photo courtesy of the city of Fishers)

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The National Federation of Independent Business says optimism among small business owners ticked slightly higher in August, but they are still struggling to find enough workers. The NFIB Small Business Optimism Index increased in August to 100.1, up 0.4 points from July. Fifty percent of owners reported job openings that could not be filled, an increase of one point from July and a 48-year record high.

“I would hope that more people than economists are taking note of this disturbing trend,” said Barbara Quandt, NFIB State Director in Indiana. “The stagnant optimism, coupled with the other NFIB troubling statistic that half of small businesses can’t find qualified workers translates into a troubling sign: many small business owners many not survive the next few months. Here in Indiana, we need to do everything we can to help support out entrepreneurs and their employees, who are the foundation of our economy.”

The NFIB says over 37% of owners report supply chain disruptions have had a significant impact on their business, 29% report a moderate impact, and 21% report a mild impact. Only 13% report no impact from recent supply chain disruptions.

Click here to view the full index report.