The results of a quarterly CNBC/Momentive Small Business Survey finds an increase of proprietors struggling with higher costs, supply disruptions and finding qualified employees to fill a growing number of open jobs.
Results in the Q3 survey of small business owners include:
- 31% say they have open positions they’ve been unable to fill for three months or more, up from 24% in Q2
- 70% say they are experiencing rising supply costs, with 39% raising their prices as a result and 38% planning to raise prices if costs continue to increase
- 50% say it’s harder to find qualified people to hire compared to a year ago
- 41% say they are currently experiencing a rising cost in wages
- 32% say they’ve offered higher wages to try to find qualified workers
- 55% say they are currently experiencing supply chain disruptions
The survey’s Small Business Confidence Index held steady at 45 out of 100. The index is below 50 for the fourth straight quarter. A score below 50 indicates more small business owners are pessimistic than are optimistic about their companies’ future.
To read the full report, click here.