Inflation overtakes labor shortage as top problem for small business

The U.S. continues to struggle with labor and supply chain woes brought on by the COVID-19 pandemic, but the latest data show the top problem cited by small business owners is now high prices. The National Federation of Independent Business’ Small Business Optimism Index for March indicated that inflation has replaced labor quality as the number one problem facing small businesses, with 31% pointing to soaring prices as their greatest challenge – up five points from the month before and the highest reading since early 1981.

Source: Fox Business News