Small Business Index examines entrepreneurial optimism

A report from MetLife and the U.S. Chamber of Commerce Small Business Index determined that optimism among small business owners is on the rise regarding hiring and investment plans.

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A high score of 63 in the era of the pandemic, with more than three in four small business owners expressing optimism about the future of their business, according to the survey conducted October 13-27, 2021.

“The optimism of small business owners runs through economic uncertainty, but they now face new hurdles with rising inflation, labor shortages and supply chain challenges,” he said. said Tom Sullivan, vice president of small business policy at the US Chamber of Commerce. “Meeting these challenges will be key to sustaining Main Street optimism and the country’s economic recovery. “

The poll showed that 38% of small business owners plan to hire more workers next year, a 28% increase from last quarter, as well as the highest rating since the launch of the index in the second quarter of 2017.

“This quarter’s findings are promising,” said Cynthia Smith, senior vice president of regional operations at MetLife. “While small business owners still face challenges, they are increasingly optimistic as we approach 2022. However, the road back to normalcy remains long and small businesses continue to need the support of their communities as we navigate an uncertain environment. ”

Officials said just over 40 percent of survey respondents indicated they plan to increase business investment over the next year.

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