Indiana’s small business owners say finding workers and recovering revenues are among the top challenges in rebuilding from the pandemic.
This is according to the NFIB Research Center’s latest survey on the impact the pandemic has had on small businesses in Indiana.
Survey findings include:
- Sales levels are 50% or less than they were pre-crisis for 14% of small businesses with another 22% at sales levels of between 51% and 75% pre-crisis levels.
- 38% of small businesses are back or nearly back to where they were with sales between 76% and 100% of pre-crisis levels.
- About one-in-five or 21% are exceeding pre-crisis sales levels.
- 15% percent of owners report that conditions are back to normal now.
- 8% of owners anticipate it taking until the first half of 2021 and 29% anticipate sometime in the second half before economic conditions return to pre-crisis levels.
- About one-third or 36% of small business owners are less optimistic and expect conditions not to fully improve until sometime in 2022 and 12% after 2022.
- Three-fourths or 75% of small businesses report that they will be able to operate for more than a year in current economic conditions.
Respondents said supply chain disruptions were impacting their business with 26% of small business owners reported it having a significant impact. Thirty percent of owners reported it having a moderate impact on their business and 29% said it has had a mild impact on their business while 15% percent reported supply chain disruptions as having no impact on their business.
Nineteen percent of small employers are experiencing a significant staffing shortage and another 19% report having a moderate staffing shortage. Forty percent of owners are not experiencing a staffing shortage.