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Small Business Owners Continue to Manage Challenging Economic Environment in July
Small Business Owners Continue to Manage Challenging Economic Environment in July
August 8, 2023
Small Business Owners Continue to Manage Challenging Economic Environment in July
- Owners expecting better business conditions over the next six months improved 10 points from June to a net negative 30%, 31 percentage points better than last June’s reading of a net negative 61%. This is the highest reading since August 2021 but historically very negative.
- Forty-two percent of owners reported job openings that were hard to fill, unchanged from June but remaining historically very high.
- The net percent of owners raising average selling prices decreased four points to a net 25% seasonally adjusted, still a very inflationary level but trending down. This is the lowest reading since January 2021.
- The net percent of owners who expect real sales to be higher improved two points from June to a net negative 12%, a very pessimistic perspective.
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