A measure of small business optimism declined slightly in September, with firms expressing concern about inflation, finding qualified workers and uncertainty over the economy.
The National Federal of Independent Business optimism index fell by 2 points to 98.8, the first decline in two months but above the metric’s long-term average of 98.
Supply chain and inflation issues were top of mind, along with an inability to find employees to fill open positions. At the same time, the percentage of business owners reporting higher profits reached its highest level since 2021.
The portrait painted by the index is similar to what larger companies are saying: Their own businesses are doing OK, but they are operating with the headwinds of inflation and general economic uncertainty.