News

The latest MetLife and U.S. Chamber of Commerce Small Business Index is 72.0, up from 65.2 last quarter, driven upward by small businesses’ improving views of both the national and local economies.

While optimism is on the rise—particularly around cash flow and the economic outlook—small businesses continue to grapple with inflation and escalating costs, which remain the biggest barriers to growth. 

“This quarter’s Index reflects a resilient small business community that’s cautiously optimistic about the economy,” said Tom Sullivan, Senior Vice President of Small Business Policy at the U.S. Chamber of Commerce. “But high costs are still holding many back from expanding and investing.” 

Small businesses were more optimistic in the third quarter, but they continue to grapple with inflation and escalating costs, which remain the biggest barriers to growth.

• The latest MetLife and U.S. Chamber Small Business Index is 72.0, up from 65.2 last quarter and a record high.
• It was driven by improving views of the national and local economies.

By the numbers:

• 46% cite inflation as the biggest challenge—a top concern for 15 consecutive quarters—and 75% say rising prices have significantly impacted their business in the past year.
• 34% say the cost of goods and services is the biggest roadblock to expansion; 33% report being unable to enter new markets due to rising costs.
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