STATE:

Why NFIB

Take Action

Get Support

Stay Informed

Podcast Podcast

Careers Careers

Join Now

Home / News / Analysis /

COVID-19 Survey: Economic Strides but Inflation and Staffing Shortages Hold Main Street Back

January 5, 2023

Survey finds inflation and staffing shortages are still challenges for small businesses owners

COVID-19 Survey: Economic Strides but Inflation and Staffing Shortages Hold Main Street Back

In a survey of small business owners published this week by the NFIB Research Center, inflation and staffing shortages continue to challenge small businesses as they attempt to recover from the COVID-19 pandemic. This survey was conducted from December 8 – 12 and is the 23^rd survey in the series with 456 responses collected. The report includes updates on sales levels, the economy, supply chain disruptions, staffing shortages, prices, interest rates, the Employee Retention Tax Credit (ERTC), paid leave, payments, and more. “The small business economy is recovering from the pandemic, but they continue to manage other economic headwinds,” said Holly Wade, Executive Director of NFIB’s Research Center. “With historic inflation, ongoing staffing shortages, and supply chain disruptions, owners are working hard to get back to pre-crisis economic levels.” Some key findings from the survey include:

Most small business owners reported that their local economy remains below pre-crisis levels of economic activity.
Almost half (46%) of small business owners have increased their average selling prices specifically because of supplies and inventory inflation.
Twenty percent of small employers are currently experiencing a significant staffing shortage and another 25% are currently experiencing a moderate shortage.
Seven percent of owners reported they increased their average selling prices specifically due to higher compensation related to staffing shortages.

This publication marks NFIB’s 23^rd Small Business COVID-19 survey assessing the health crisis impact on small business operations, economic conditions, and utilization of the targeted small business loan programs. The first series was published in early March 2020. The full survey of the 23^rd edition is available here.

Topics:

Economy

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Learn More

June 19, 2026

What to Know About Employing Teen Workers this Summer

In June 2025, over 30% of teens aged 16-19 were employed in the U.S., totaling 5.36 million people.

June 17, 2026

38 New Mexico Legislators Earned 100% Voting Records on Small Business Issues

NFIB’s 2025-2026 Voting Record includes eight key votes on tax, regulatory, and judicial reforms

Long rectangular conference table with attendees on both sides, flags at the end, and name placards for a formal meeting in a stately room.

June 17, 2026

Small Business Owners Bring Viewpoint to Capitol Hill

NFIB members traveled to Washington D.C. for NFIB’s Fly-In to attend meetings with members of Congress. Take action to amplify their voices!

June 16, 2026

NEW NFIB Op-Ed: Competition Won’t Jeopardize Tourism in New Mexico, the Status Quo Will

“Increasing competition among processing networks won’t jeopardize tourism here in New Mexico.”

COVID-19 Survey: Economic Strides but Inflation and Staffing Shortages Hold Main Street Back

Related Articles