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April 04, 2024
Small enterprise house owners’ confidence within the US economic system rose to a studying of 62.3 within the first quarter from 61.3 within the fourth quarter of 2023, reflecting a secure enterprise local weather, in keeping with the US Chamber of Commerce’s Small Enterprise Index launched April 2. Nonetheless, inflation stays a priority for 52% of small companies.
“Small companies’ perceptions of the economic system are drifting upward, with companies reporting being snug with their money circulate and the well being of their enterprise,” Tom Sullivan, VP of small enterprise coverage on the US Chamber of Commerce, mentioned in a press assertion. “Whereas many enterprise house owners have continued to wrestle with excessive costs and rising wages, current jobs experiences are optimistic. Whereas headwinds stay, confidence is ticking upward, and small companies are extra resilient and ready for unexpected challenges.”
The share of small enterprise house owners who mentioned the economic system is in good well being rose by seven proportion factors to 32%, and 38% mentioned their native economic system is in good well being, up eight proportion factors from the top of 2023. As well as, 65% of small companies mentioned their general well being is nice, and 67% mentioned they’re snug with their present money circulate.
Nonetheless, the general notion of the economic system stays muted as almost half of small companies proceed to really feel the economic system is unwell. Small companies stay involved about inflation, whereas concern for income rose seven proportion factors this quarter; 29% mentioned income is a high problem, returning to a stage of concern final recorded in late 2021.
The quarterly survey, a collaboration between MetLife and the US Chamber of Commerce, consists of responses from roughly 750 small enterprise house owners and decision-makers. The primary-quarter survey was performed between Jan. 26 and Feb. 12.
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