DALLAS–(BUSINESS WIRE)–National Write Your Congressman (NWYC), an organization that gives small businesses a voice in government, released its Q3 2021 Quarterly Index which found half of small business owners benefitting from the federal infrastructure bill. NWYC also found just a quarter of small businesses planning to grow their business this year, a decrease of almost 50 percent from last quarter. Eighty-five percent of small business owners are having issues with the supply chain.
“Business owners had great optimism at the beginning of 2021 and into Q2 as local economies were opening back up, but due to many factors including inflation, rising costs, and supply chain issues, the optimism has waned, and fewer business owners are planning to grow,” said Randy Ford, President and COO of National Write Your Congressman.
Businesses benefitting from the infrastructure bill listed improved transportation infrastructure (34 percent), improved seaport infrastructure (23 percent), an update of the country’s electric transmission system (22 percent) and access to high-speed broadband internet in rural areas (19 percent) as the top four aspects of the federal infrastructure bill that would help their business.
Ninety-six percent of business owners said inflation is affecting business costs and pricing for products/services and 84 percent of business owners have seen a disruption in their normal timeline of services, operations or manufacturing due to problems with the supply chain. Out of those who are having issues with the supply chain, 40 percent are not able to fulfill customers’ orders.
“Many small business owners are now seeing the importance of making their voices heard as federal bills that directly affect their bottom line are passed,” said Ford. “We know that each industry is impacted in different ways, and we continue to encourage our members to continue to advocate for their business even in times of uncertainty and limitations in the U.S. economy.”
The State of Small Business
Twenty-seven percent of business owners said their business has remained flat this quarter, while 30 percent of businesses are at pre-pandemic levels and a quarter of businesses are exceeding pre-pandemic levels. Twenty-eight percent of business owners are uncertain about their business’ future and 26 percent plan to cut expenses to keep business afloat, an increase from Q2 2021.
In Q2 2021, business owners’ top concerns were hiring qualified workers (28 percent), followed by taxes (19 percent), COVID-19’s effect on their business (12 percent) and regulations (10 percent).
In Q3 2021, business owners’ top concerns were securing supplies and inventory to keep up with their company’s operations/productions (24 percent), followed by hiring qualified workers (17 percent), taxes (16 percent) and keeping up with the rising costs of their employees’ pay/salary (12 percent).
Congressional sentiment grew slightly from last quarter. Fifty-nine percent of small business owners said they are confident their U.S. Congressional Members know their opinions on important issues, a percentage point increase from last quarter. Thirty-eight percent believe their own elected U.S. Congressional Members act according to their constituents’ input. Thirty-nine percent of small business owners surveyed said they trust the elected U.S. Congressional Members who represent them.
NWYC’s Quarterly Index Score increased with an overall increase in hope, satisfaction, and trust in Congress. Members’ trust, hope, and satisfaction with their local government was highest compared to their satisfaction, hope, and trust in state and national government. More information can be found in the infographic.
NWYC provides members with non-partisan information and research along with the tools they can use to connect with their representatives in Washington and advocate for the policies and actions that will help their small businesses be successful for their families, their employees, and their communities.
To become a member of NWYC, please visit https://nwyc.com/register/plans.
NWYC collected data using an online survey administered from November 5 to November 15, 2021. A total of 1,109 respondents participated. Respondents represent 47 of the 50 states in the U.S. Fifty-nine percent of business owners surveyed employ 1-9 employees and 38 percent employ 10-99 employees.
About National Write Your Congressman
National Write Your Congressman (NWYC) is an organization that gives small businesses a voice in American government. As the nation’s largest, privately held, nonpartisan membership organization made up of small businesses, NWYC is dedicated to the delivery of constituent opinions to representatives in Washington. For more than 60 years, NWYC has provided small business owners and operators the tools necessary to connect with members of Congress and a platform to let their collective voice be heard. NWYC’s team of experts provides unbiased, nonpartisan information and research on top issues and pending legislation relevant to small business owners today. NWYC presents both sides of the issue so that members can form an educated opinion and let their opinions be heard. To become a member of NWYC, please visit https://nwyc.com/register/plans.