Even in the wake of increased concerns about inflation, small businesses across America are continuing to enjoy a post-pandemic rebound, according to a new survey just issued by the U.S. Chamber of Commerce.
Applying numbers gained from its Small Business Index, the Chamber report notes that business activity in the last quarter stood at 66.8 on a scale of zero to 100—up from 64.1 in the first three months of this year.
Despite those good numbers, notes the survey, the score is still short of the 71.7 that was recorded in the first quarter of 2020 just as the Covid-19 outbreak occurred.
Done in a partnership with the MetLife Insurance company, the index reflects the views of some 750 small business owners and operators nationally.
The index also indicates that many small business owners are worried about inflation, with 44% of those surveyed regarding it as their primary challenge, up from 33% in the last quarter.
In the spring of 2021, when most small businesses were still trying to shake off the negative impact of the pandemic, only 19% saw inflation as a major concern.
In a report accompanying the Chamber/MetLife survey, roughly 50% of small business owners also indicated that they are “working more hours now than they were a year ago.” Five years ago, only 30% of the owners said the same.
That 20% increase, continues the report, “speaks to the myriad challenges small business owners continue to face.”
By Garry Boulard
