Small Business Owners Looking Up in 2023
Company Added
Company Removed
Apply to Request List

Small Business Owners Looking Up in 2023

Small Business Owners Looking Up in 2023

Optimism appears to be creeping back into the minds of small business operators, according to the January 2023 Road to Recovery Report from Alignable.

On the heels of another bumpy 2022, 61% of small business owners said they expect 2023 to be a good year for them - 26% of that group said 2023 could be “great,” with opportunities to expand and thrive. The findings are notable considering inflation, rising interest rates, fears of recession, and increasing rents.

Here are a few other key statistics from the latest study:

  • 56% say they’re more optimistic about their business success now than in January of 2022.
  • While small business owners say inflation’s still their No. 1 concern, the percentage of those worried about it has declined from 32% to 30% in the past month. And those saying they don’t have any major financial concerns jumped to 20% in January, up five percentage points from just 15% in December.
  • The cost of supplies also has declined. In December, 40% of small business owners told us supplies were 25% or higher compared to pre-Covid prices. But that percentage dropped to 34% this month. 
  • There was some bad news. While 45% said customer counts are up for them, only 38% said they’re generating as much revenue monthly as they did prior to Covid. So, there’s still a long way to go before we can say most businesses have bounced back. 
  • Small business owners estimate it will take at least until Q1 2024 for most small businesses to fully recover to pre-Covid revenue levels.
  • And while optimism is higher than usual right now, 56% also say they fear a recession could hit this year.

To see the full report, go here.

 

Published: January 24th, 2023

Share this Feature

Bonchon
SPONSORED CONTENT
Bonchon
SPONSORED CONTENT
Bonchon
SPONSORED CONTENT

Recommended Reading:

Comments:

comments powered by Disqus
American Freight
ADVERTISE SPONSORED CONTENT

FRANCHISE TOPICS

Marco's Pizza®
ADVERTISE SPONSORED CONTENT
Conferences
Caesar's Forum, Las Vegas
MAR 19-22ND, 2024

PetWellClinic is a walk-in veterinary clinic offering basic health and wellness services to dogs and cats. PetWellClinic is the first vet clinic...
Cash Required:
$250,000
Request Info
BoConcept was born in Herning in 1952 and has grown from a small firm to Denmark's most global furniture brand, with over 300 stores in more than 60...
Cash Required:
$500,000
Request Info

Share This Page

Subscribe to our Newsletters