small business

Survey Finds Small Business Owners Feeling Uncertain About the Future

NBC Universal, Inc.

Despite the new jobs coming into Connecticut, companies are not feeling great about the future, according to the "Optimism Index" from the National Federation of Independent Businesses.

Small business owners say they're more pessimistic about the economy, and more uncertain about the future.

And a lot of these feelings are the result of the supply chain.

"It seems there's a general sense of uncertainty out there uncertainty about the state's economy, the national economy, policies coming out of Washington, DC as well as the state Capitol. But right now, especially there are issues with staffing and supply chains that are driving up costs for small business owners," Andy Markowski, the Connecticut director for NFIB.

The NFIB also found that nearly half of all small businesses said they have job openings that can't be filled. And though this is a national survey, Markowski says he's seeing these trends in Connecticut too.

"Nearly every small business owner that I've spoken with on behalf of NFIB has told me that they are suffering from either one or both of those problems," Markowski said.

"The uncertainty is going to linger for quite a while the NFIB recent report reflects that. And it's a matter of just riding this out. Small business owners have few options, they can raise prices, pass those costs along to their customers, or they can try to absorb the cost as best they can. Small business owners are being creative and doing what they can to fulfill their customers to continue to provide products and services. But it's definitely a challenging time right now," he added.

There is some good news. While businesses are worried, Markowski thinks that in the long wrong, they'll be OK.

"Well, the good thing is small business owners by their nature are resilient, and they're entrepreneurial. They're doing anything and everything they can to stay open and ride through this. They're being creative. They're doing extra things to keep staff on board, whether that's offering a higher wages, retention bonuses, small business owners themselves are cutting back on their own paychecks and putting in more hours in the business on their own."

He suggests shopping small, not just for small business Saturday, but as much as you possibly can.

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