Small businesses limp toward 2024 with gloomier outlook

Posted under: SMB
Date: 2023-12-15
Small businesses limp toward 2024 with gloomier outlook

Confidence among CEOs and economists in the prospects for the economy is not shared by small businesses. Small business confidence in the economy dimmed during the past several weeks amid persistent price pressures and a tight labor market, according to two recent surveys. More than half of small businesses identified inflation as one of their biggest challenges, the U.S. Chamber of Commerce found in a survey, aligning with results from a poll by the National Federation of Independent Business. At least two out of five small businesses reported difficulty filling open jobs, according to the surveys. “With inflation still outpacing revenue expectations, small business owners are wary of the future and continue to have an overall negative impression about the national economy,” Tom Sullivan, the chamber’s vice president of small business policy, said in a statement.

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