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Inflation Concerns Soar Small Business Insights Since 1981

Posted on Tuesday, January 18, 2022
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Inflation

In NFIB Small Business Optimism Survey, businesses report struggling with record inflation, supply chain disruptions, finding workers

Small business owners are struggling to manage their businesses and hire workers due to Bidenflation, the December Small Business Optimism (NFIB) Survey showed.

Business owners remain pessimistic about future economic conditions too – optimism has declined 23 points over the past six months as small businesses brace for tax hikes and higher inflation due to President Biden’s tax-and-spending binge.

  • Facing the highest inflation in 40 years, almost a quarter of small businesses agreed that inflation is the biggest problem in operating their business–the highest inflation has ranked since 1981. Two-thirds of businesses have had to pass costs onto consumers in higher selling prices due to Bidenflation.
  • A third of small business owners report that President Biden’s supply chain disruptions have impacted their business significantly.
  • Half of small businesses reported job openings they were not able to fill.

CLICK HERE to read the full report.

KEY TAKEAWAYS:

Bidenflation is crushing America’s working families and small businesses.

  • The American people ranked concerns about inflation at a record high for the second month in a row in the December Survey of Consumer Expectations.
  • The November Producer Price Index (PPI) showed a record number of small businesses being forced to consider price increases, which are passed onto consumers.

READ: Price-mageddon: Historically High Number of Small Businesses Forced to Raise Prices

Democrats’ trillions in spending has devastated our recovery.

  • Job creators are struggling to retain workers. The Job Opening and Labor Turnover Survey (JOLTS) reported that a record 4.5 million workers left their jobs in November.
  • Democrats continue to push for policies in their next $5 trillion spending bill that hold back our recovery, raise taxes on job creators, and keep Americans from reconnecting with work. 

READ: Study: Biden’s Unemployment Bonus Held Back Economic Recovery

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