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Small Businesses: Difference between revisions
→Small Business Index
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'''Methodology:''' https://www.uschamber.com/sbindex/methodology | '''Methodology:''' https://www.uschamber.com/sbindex/methodology | ||
=== Q3 2023 === | |||
The Q3 2023 MetLife & U.S. Chamber of Commerce Small Business Index rises to 69.2 this quarter, an increase since last quarter (63.1) and the highest reading since the start of the COVID-19 pandemic in early 2020.<ref>https://www.uschamber.com/sbindex/uploads/2023_Q3_assets/Q3_2023_SBI_Press_Release_PDF.pdf</ref> | |||
* Currently, one-third (33%) of small businesses say the U.S. economy is in good health, a nine-percentage point increase from last quarter. 38% feel the same about their local economy (up eight percentage points from Q2). | |||
* Small businesses are feeling better about their business health: Two in three (66%) small businesses report that their business is in good health. This is a nearly 10 percentage-point increase from last quarter. | |||
* 71% say they expect next year’s revenue to increase, the highest levels recorded since the start of this survey (Q2 2017). In addition, 42% of small businesses say they plan to increase investment in the next year and two in five (40%) small businesses say they anticipate increasing staff in the next year. | |||
* A majority (52%) of small businesses continue to report that inflation is their biggest challenge, a consistent pattern over the past year. This is near a record high and consistent across regions, business size, and sector. | |||
* A majority (56%) of small businesses say keeping up with employee salary expectations is a challenge. | |||
* At the same time, slightly fewer small businesses say that rising interest rates are limiting their ability to raise capital or financing for their business (70% in Q3 vs. 76% in Q2 2023). | |||
* 70% of small businesses say they are actively addressing employee mental health as a priority right now. This prioritization has increased since Q3 2021, when 60% said the same. | |||
=== Q2 2023 === | === Q2 2023 === | ||