Despite a challenging economy, there is some good news for small businesses. The recent Small Business Index, presented by MetLife and the U.S. Chamber, reached its pandemic-era high score this month.
Granted, challenges abound when it comes to inflation, supply chain and overall hours worked for small business owners. But there is a sense of optimism abounding. It reports:
One striking thing about small business owners over the past five years has been their steady optimism that things will improve in the future no matter what challenges the present throws at them. And this quarter is no different.
Looking ahead to next year, 43% of small businesses intend to increase their staff—an increase of six percentage points from last quarter. Meanwhile, 43% anticipate they will invest more over the next year, and 66% expect revenues to increase, both on par with Q1 2022.
It takes a lot of grit, determination, and hard work to start and sustain any small business. If anything, the SBI over the past five years has demonstrated small business leaders also have something else that sets them apart: relentless optimism.
For more, read the report online.
