MetLife - Small Business Hiring Plans Reach Record Highs

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MetLife – Small Business Hiring Plans Reach Record Highs

Jul 24, 2023, < 1 Minute Read

The Q2-2023 Small Business Index by MetLife and the U.S. Chamber of Commerce shows significantly improved future expectations for small businesses. The increased optimism, especially regarding record high staffing plans and revenue growth, has driven an overall rise in the Index score.

Highlights Include:

Revenue expectations reach record highs. The share of small business owners that expect their revenue to increase in the next year reached an Index high (71%), up by seven percentage points since Q1-2023.
Hiring plans reach record highs. Nearly half (47%) of small businesses report that they anticipate increasing staff in the next year, up 10 percentage points since last quarter.
Small business owners report stability in their operations—including business health, comfort with cash flow, and increased staffing—this quarter.
24% of small business owners believe the U.S. economy is in good health, consistent with Q1-2023 (20%).
59% of small businesses say the overall health of their business is very or somewhat good.
Most small businesses report steady staffing levels. 64% say their business has retained the same staff size over the past year, while nearly a quarter (23%) say they have increased staff.

For details about the Small Business Index, download the MetLife flyer and visit the U.S. Chamber of Commerce.

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