Topics:
Health Care Costs, Inflation Continue to Harm Small Businesses
Health Care Costs, Inflation Continue to Harm Small Businesses
August 15, 2024
Health Care Costs, Inflation Continue to Harm Small Businesses
- Unchanged since 1986, the “Cost of Health Insurance” remains the number one chronic issue for small business owners.
- The “Cost of Supplies/Inventories” moved up in importance from ranking 12th in 2020 to its current second place ranking – a direct result of historic inflation over the last two years.
- “Interest Rates” topped the list by rising 43 positions from a rank of 56th in 2020 to 13th in 2024.
- Inflation remains the top issue among small business owners, with 25% reporting it as their single most important problem in operating their business, up four points from June.
- Thirty-eight percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, up one point from June.
- Seasonally adjusted, a net 33% reported raising compensation in July, down five points from June and the lowest reading since April 2021.

State:
Get to know NFIB
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
Related Articles

February 17, 2025
Watch Now: NFIB Unpacks Gov. Shapiro Budget Proposal
Hear from NFIB’s Greg Moreland on what the proposal includes for small bu…
Read More

February 14, 2025
Bipartisan Deal Struck to Save Tipped Wages – Earned Sick Tim…
ESTA and tipped wages legislative update
Read More

February 12, 2025
Small Business Owners Applaud Governor Morrisey’s Commitment…
Gov. Morrisey delivered his first State of the State address
Read More

February 12, 2025
Utah Comment on Latest Small Business Optimism Index
Re-working of House Bill 24 should help keep positive outlook sustained for…
Read More