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SCORE surveyed small business owners how they’re managing profits, sales and expenses in the current economy, and their response to business challenges to stay profitable. Many report rising prices to compensate.
Inflation & the Economy Part 1: The Economy, Inflation and Pricing
December 22, 2022
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Key Findings
- Getting customers remains the top challenge for small business owners but cash flow, inflation and supply chain disruptions are growing concerns.
- Most business owners are worried about inflation. 30.5% list inflation as a top concern and another 62.5% are generally concerned as they keep an eye on rising prices.
- Due to continued economic uncertainty, three out of four business owners (76.4%) report feeling ambivalent about the economy – either somewhat positive, somewhat negative or neutral.
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This “Megaphone of Main Street” data report by SCORE examines how small businesses are being impacted by the current economy and inflation, how turbulent economic factors have affected their profitability, and what they have done to protect their businesses in response.
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