A MetLife and U.S. Chamber of Commerce Small Business Index report has determined that small business owner optimism is on the rise regarding hiring and investment plans.
A pandemic-era high score of 63, with over three in four small business owners expressing optimism about their business future, according to the poll taken Oct. 13-27, 2021.
“Small business owners’ optimism is plowing through economic uncertainty, but they now face new obstacles with rising inflation, labor shortages, and supply chain challenges,” Tom Sullivan, vice president for Small Business Policy at the U.S. Chamber of Commerce, said. “Addressing these challenges will be key to sustaining Main Street’s optimism and the nation’s economic recovery.”
The poll showed that 38 percent of small business owners anticipate hiring more workers next year, representing an increase of 28 percent over last quarter, as well as being the highest mark since the Index launched in Q2 2017.
“This quarter’s findings are promising,” Cynthia Smith, senior vice president, Regional Business at MetLife, said. “While small business owners still face challenges, they are increasingly optimistic as we head into 2022. However, the road back to normalcy remains long, and small businesses continue to need their communities’ support as we navigate an uncertain environment.”
Officials said just over 40 percent of poll respondents indicated they plan to boost business investments in the next year.