There’s been some good news for small businesses as the MetLife and U.S. Chamber of Commerce Small Business Index reached a pandemic-era high during the last quarter.
The Small Business Index score for the last quarter is 63.0, which is the highest Index score since the beginning of the Coronavirus pandemic. To compare, the previous quarter’s score was 56.6, with the lowest pandemic-era score plummeting as low as 39.5.
US Chamber of Commerce Small Business Confidence Index Hits Pandemic Era High
Despite the optimism of the higher Index score, the US Chamber report notes that the sentiment of small business owners and the Index score have been fluctuating more than usual over the last year. This likely indicates that small businesses continue operating in the face of uncertainty as the evolving pandemic situation makes planning for the future difficult.
Small Business Optimism Grows
While the uncertainty of the future isn’t exactly an ideal situation for small business owners, it seems that many do see a light at the end of the tunnel and their hopes for the future are more optimistic than they have been for some time.
Labor Shortages and Supply Chain Issues
The report also reveals that a majority of small businesses view the holiday season as crucial to their bottom line, but labor shortages and supply chain issues may prevent them making the most of this busy time of year.
Steve Niehaus, MBA, CBI, CM&AP
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239.565.3171
