As small business owners take stock of their performance metrics and look forward to the year ahead, many are feeling more optimistic than in the past, but face five key challenges: 1. Inflation: Rising costs, with 80% experiencing over a 6% increase. Responses include price hikes and cost-cutting. 2. Access to Credit: Concerns surge, with 77% worried about accessing capital, influenced by regional bank closures. 3. Rising Interest Rates: Affecting growth plans for 50% of businesses; 76% claim it limits capital raising. 4. Hiring and Retention: Salary challenges persist, making it hard to retain talent. 56% find it challenging to meet salary expectations. 5. Supply Chain Disruptions: Lingering pandemic-related issues impact 23% of businesses. Some find relief by switching to domestic suppliers. Optimism remains, but small businesses need strategies to navigate uncertainties and foster growth in the upcoming year.