Around 88% of small business owners in the United States are expecting an economic recession by the end of this year or in 2023, according to a survey conducted by the Small Business and Entrepreneurship Council (SBE Council). Meanwhile, because of inflation and higher business costs, 62% of the small business owners have reduced expenses on official trips, business development, equipment, technology, employee intake, payroll, and other segments. The country’s small business owners now want the US government to initiate positive steps to curb inflation, ensure affordable health coverage and alleviate other issues related to supply chain, cybersecurity, interest rates and labor shortage.
