Small business optimism fell 2.0 points in September to 98.8, the first decline in three months, according to the National Federation of Independent Business’ Small Business Optimism Index report.
The Uncertainty Index increased seven points from August to September to 100, the fourth-highest reading in over 51 years.
“Optimism among small business owners decreased in September,” NFIB Chief Economist Bill Dunkelberg said in a statement. “While most owners evaluate their own business as currently healthy, they are having to manage rising inflationary pressures, slower sales expectations and ongoing labor market challenges. Although uncertainty is high, small business owners remain resilient as they seek to better understand how policy changes will impact their operations.”
In September, 18% of small business owners cited labor quality as their single most important problem, down 3 points from August and tying with taxes as the top single most important problem.
Last month, 64% of small business owners reported that supply chain disruptions were affecting their business to some degree, up 10 points from August.
Read the full report here.
