Small business owners are entering the holiday season with increased optimism despite ongoing economic challenges. The Uncertainty Index rose in October to a record high of 110, marking a seven-point increase. This reflects persistent concerns among small business owners, particularly regarding inflation and worker shortages.
Inflation remains the primary issue for 23% of small business owners, consistent with September's figures. Although sales growth has slowed recently and cost pressures are impacting profits, there is still hope for improved conditions in the future.
With the election concluded and a new administration set to begin in January, small business owners may have more certainty about upcoming business conditions. Further insights can be found in the full Small Business Economic Trends report.
