Only 30% of small businesses reported full recovery from the impact of the COVID-19 pandemic, according to an October survey by Alignable.
That number is up 2% from the previous month’s survey and down 5% from a July peak.
Small businesses cited inflation as the largest obstacle to full recovery, with 48% stating it’s the main concern.
Of the survey respondents, 85% reported suffering from the increased cost of supplies and inventory, and 50% stated they felt able to pass the costs onto customers.
An October Hiring Report survey also found that 65% of small business owners were having trouble hiring staffers. Of those that were able to hire, 64% reported paying higher salaries than they did pre-COVID—a 9% increase over last month.
The full Alignable report can be found here.