According to the latest quarterly survey from Metlife and the U.S. Chamber of Commerce, confidence among small businesses hit a post-pandemic high in recent weeks as fears of recession waned.
Sixty-six percent of small businesses said they are in good financial health and 72% reported solid cash flow.
Small businesses generate about 44% of gross domestic product, nearly half of private sector workers and, from 1998 through 2021, created 63% of net new jobs, according to the Small Business Administration.
“Main Street employers are showing remarkable resiliency in the face of high inflation and a shortage of workers,” Tom Sullivan, the U.S. Chamber’s vice president of small business policy, said in a statement.
“With fears of a recession likely in the rearview mirror and inflation starting to ease, small business owners are feeling a lot better than they were a year ago.”