Small business owners may want to brace themselves as new insights from the latest CNBC | SurveyMonkey Small Business Index reveal an uptick in inflation concerns. With 71% of respondents believing that prices will continue to rise, many are grappling with the distinct threat inflation poses to their operations and profitability. This marks an increase from 66% in the previous quarter, with only 28% now convinced that inflation has peaked, down from 32%.
The Small Business Index offers a window into the thoughts and feelings of entrepreneurs across the nation, providing vital information that could influence business decisions. The survey explicitly highlights that small business owners rank rising prices as their leading concern, with 24% identifying it as the biggest risk they currently face. In a climate where consumer demand (17%), tariffs (10%), supply chain disruptions (10%), and rising interest rates (10%) follow closely behind, it becomes clear that maintaining financial health is a priority for many.
“Inflation is and will continue to be an essential topic for small businesses,” stated a spokesperson from SurveyMonkey. This sentiment resonates deeply within the small business community, where every percentage point in pricing can impact the bottom line significantly.
Rising prices not only threaten margins but can also disrupt consumer spending behavior.