A survey of small business owners found only 29% have fully recovered from the impact of the pandemic so far, down 1% from January and down 14% from December, according to Alignable.
Survey respondents predicted full recovery for all small businesses could take until the second half of 2023.
The survey, administered Feb. 19–March 7, also found 42% of all small businesses earned less than pre-COVID monthly revenues, up 4% from January. Supply chain challenges also continued to grow, with 91% of small businesses reporting increased supply costs and 39% reporting supply costs were more than 25% higher. Inflation was also cited as the number one concern among 43% of small businesses.
The full Alignable report can be found here.