BOSTON–New data released as part of Alignable’s August State Of Small Business Report reveals growing worries among small businesses about the Delta variant of the coronavirus, increasing inflation stress, and an escalating labor shortage in many industries.
Most of the report is based on a survey of 5,262 small business owners from July 31-August 8, 2021.
“The good news is that revenues and customer counts continue to climb for many small businesses,” Alignable said In releasing the findings. “But those improvements were smaller this month than in July, and projections show they could even be reversed if Delta variant surges continue.”
The Findings
Among the findings:
- 47% of small businesses fear government re-closures due to Delta variant surges. The last time that figure was so high was 15 months ago, and it’s been growing since April of this year
- 76% of small businesses are worried that the Delta variant will hinder or even reverse their recovery
- · Concerns about the Delta variant have pushed SMB predictions for a full recovery out by one quarter
- 72% of SMBs said they are more likely to hire someone who has been fully vaccinated compared to those who have yet to receive vaccines
- 59% of small businesses say they can’t find employees for their businesses. That figure jumped 9% from July, showing that the labor shortage is at an all-time high