Survey Shows Post-Pandemic Small Business Optimism Increase

A strong 65% of small business owners nationally believe the worst of the Covid-19 pandemic is over, according to a new poll just released by the U.S. Chamber of Commerce.

The survey, done in conjunction with the MetLife insurance company, also indicated that an overwhelming 75% of owners say they are either hopeful or comfortable when thinking about their current post-pandemic operating strategies.

In a statement, Tom Sullivan, vice-president of small business policy at the Chamber, said the reasons for the renewed optimism are directly related to what owners are seeing with their own eyes.

“The easing of capacity restrictions due to increased vaccinations means more small businesses are welcoming more customers,” noted Sullivan. “Increased foot traffic equates to economic growth and that is moving our country’s recovery forward.”

The optimism is particularly noted in the services sector: in late 2020, only 29% of owners in this category said they believed the worst of the pandemic was over. Today that number has increased to 67%.

Similarly, in the professional services category, a 43% positive response in the last quarter of 2020 is now at 72%.

Nearly 60% of the small business respondents said they anticipate an increase in revenue later this year, up from 47% who said that in 2020.

By region, small businesses located in the Northeast and West were the most likely to expect their revenue to increase this year.

But in a nod to what appears to be an ever-tightening labor market, 52% of the small business owners said they will more than likely maintain their current staff levels, with 32% indicating that they plan to increase their payrolls.

A significantly smaller 11% anticipate laying off workers this year.

​By Garry Boulard

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