What Do Small Business Owners Need in 2022?Impact Reports•Jan 19, 2022• < 1 min read
To kick off the Year of Small Business, Hello Alice conducted a comprehensive survey to gauge owner outlook heading into 2022.
Hello Alice proudly serves more than half a million small business owners nationwide. This survey captures their response to challenges such as inflation, supply chain disruptions, COVID-19, and hiring. Our insights capture the most pressing needs and challenges facing small business owners and reveal striking differences across industries and owner demographics.
Here are some key takeaways from this report:
- Small business owners are overwhelmingly optimistic. Despite numerous challenges, 79% of owners expect their business to grow this year.
- Inflation is the top-ranked challenge. Owners report they’re increasing prices, decreasing staff, and even taking out loans to stay afloat.
- Supply chain issues persist. 70% of owners believe supply chain challenges will continue to affect their business in some capacity. Responses varied by industry, with food and beverage owners disproportionately telling us the supply chain will have a “massive impact” on their business.
- Owners need capital to overcome unforeseen challenges. Access to capital remains a persistent obstacle, with 37% of owners reporting they were turned down for a business loan from traditional banks. Nearly half of owners said they need additional capital to cover essential operating expenses and cost of goods.
If your company or organization is interested in supporting this important work or gaining insights about your community of business owners, please reach out to [email protected]
For media inquiries or interview requests, please contact [email protected]