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=== Magaly ===
=== Magaly ===
'''Key Insights'''  
'''Key Insights'''
 
* Employment mesuare by ADP, has only decline in the very small businessess (1-19 emplloyees), but still less than 1% y/y. However, job growth is declining for most business sizes. 




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The MetLife & U.S. Chamber of Commerce Small Business Index is released on a quarterly basis and is compiled from 750 unique online interviews with small business owners and operators each quarter.
The MetLife & U.S. Chamber of Commerce Small Business Index is released on a quarterly basis and is compiled from 750 unique online interviews with small business owners and operators each quarter.


'''Methodology:''' https://www.uschamber.com/sbindex/methodology  
'''Methodology:''' https://www.uschamber.com/sbindex/methodology
 
=== Q2 2023 ===
“The challenges of our current economy may have delayed some small business owners’ plans to expand or hire more staff, but now they see opportunity for growth on the horizon,” said Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber of Commerce. "Small businesses are again showing remarkable resiliency. There has been a strong majority reporting that their business is in good health over the last year and it’s clear many have high expectations for the future.”<ref>https://www.uschamber.com/sbindex/uploads/q2-2023-sbi-press-release-final.pdf</ref>


*'''Three in ten (30%) small businesses say their local economy is good''', a stable reading from Q1 2023 (29%) and extending a year-long plateau in perceptions of local economies after a drop between Q2 and Q3 2022.
* About three in five '''(59%) small businesses say the overall health of their business is very or somewhat good.'''
*'''(64%) small business owners say they are comfortable with their cash flow.''' This has remained stable for the past three quarters, following a seven-percentage point drop between Q2 and Q3 2022.
*'''Most small businesses report steady staffing levels.''' Sixty-four percent say their business has retained the same staff size over the past year, while nearly a quarter (23%) say they have increased staff. T
* Record high share of small business owners '''(71%) expect their revenue to increase in the next year.'''
* A record-high share also anticipates hiring more staff in the next year (47% up from 37% last quarter).
* More than three-quarters '''(76%) say that rising interest rates are limiting their ability to raise capital''', up from 66% who said the same last quarter. Of the 26% that had used a variable rate loan, 53% have converted it into a fixed rate loan.
*'''73% of small businesses say it’s harder to borrow money for their business from banks because they are tightening lines of credit.''' Likewise, 74% express concern about rising interest rates making it harder to pay back current business loans.
*'''A majority (54%) of small businesses rate inflation as their largest challenge.''' This matches past highs from the Index and has remained consistent since Q3 2022. Consistent with last quarter, supply chain issues (23%), rising interest rates (23%), and revenue (20%) remain second-tier concerns behind inflation.
=== Q1 2023 ===
=== Q1 2023 ===
“This quarter, small businesses’ concerns over inflation are soaring and their view of the broader economy is darkening, though they still report that their own businesses are in good health,” said Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber of Commerce. “Small business owners are pulling back a bit on spending as they see storm clouds in the economy appearing ahead.”<ref>https://www.uschamber.com/sbindex/uploads/q1-2023-sbi-press-release_final.pdf</ref>
“This quarter, small businesses’ concerns over inflation are soaring and their view of the broader economy is darkening, though they still report that their own businesses are in good health,” said Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber of Commerce. “Small business owners are pulling back a bit on spending as they see storm clouds in the economy appearing ahead.”<ref>https://www.uschamber.com/sbindex/uploads/q1-2023-sbi-press-release_final.pdf</ref>
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* Employee retention – 11%  
* Employee retention – 11%  
* Affording healthcare/benefits – 10%
* Affording healthcare/benefits – 10%
=== Q2 2023 ===
“The challenges of our current economy may have delayed some small business owners’ plans to expand or hire more staff, but now they see opportunity for growth on the horizon,” said Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber of Commerce. "Small businesses are again showing remarkable resiliency. There has been a strong majority reporting that their business is in good health over the last year and it’s clear many have high expectations for the future.”<ref>https://www.uschamber.com/sbindex/uploads/q2-2023-sbi-press-release-final.pdf</ref>
* '''Three in ten (30%) small businesses say their local economy is good''', a stable reading from Q1 2023 (29%) and extending a year-long plateau in perceptions of local economies after a drop between Q2 and Q3 2022.
* About three in five '''(59%) small businesses say the overall health of their business is very or somewhat good.'''
* '''(64%) small business owners say they are comfortable with their cash flow.''' This has remained stable for the past three quarters, following a seven-percentage point drop between Q2 and Q3 2022.
* '''Most small businesses report steady staffing levels.''' Sixty-four percent say their business has retained the same staff size over the past year, while nearly a quarter (23%) say they have increased staff. T
* Record high share of small business owners '''(71%) expect their revenue to increase in the next year.'''
* A record-high share also anticipates hiring more staff in the next year (47% up from 37% last quarter).
* More than three-quarters '''(76%) say that rising interest rates are limiting their ability to raise capital''', up from 66% who said the same last quarter. Of the 26% that had used a variable rate loan, 53% have converted it into a fixed rate loan.
*'''73% of small businesses say it’s harder to borrow money for their business from banks because they are tightening lines of credit.''' Likewise, 74% express concern about rising interest rates making it harder to pay back current business loans.
*'''A majority (54%) of small businesses rate inflation as their largest challenge.''' This matches past highs from the Index and has remained consistent since Q3 2022. Consistent with last quarter, supply chain issues (23%), rising interest rates (23%), and revenue (20%) remain second-tier concerns behind inflation.


== Small Business Credit Survey ==
== Small Business Credit Survey ==
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