Bank of American Business Banking President and Co-Head Sharon Miller discusses small and medium-sized businesses and the prospects for these companies to enter 2026 in the ‘Craman Countdown’.
The share of small businesses Raising their sales prices jumped to an All-Time High in November as inflationary pressure continues to affect businesses and consumers, according to a new report by the National Federation of Independent Businees (Nfib).
The NFIB’s monthly report on the small business economy for November found a 13-point jump in the percentage of owners reporting their sales figures, which was the largest monthly increase in the survey’s history.
That pushed the percentage of owners who said they would increase the median price of a property to 34%, the highest reading in the survey since March’s 20%. That is also above the monthly average of 13%.
Inflation It continues to create challenges for small businesses, with recent readings showing that year-over-year inflation is close to 3% – well above the Federal Reserve’s target of 2%.
Small Business Promotion, but owners say qualified workers are still hard to find
The NFIB’s small business survey found a significant monthly increase in travel costs by small business owners. (James Carbone / Newsday RM via Getty Images)
The NFB found that pricing was ranked second among the issues small business owners cited as the single most important issue they face in running their business.
There the number of workers Problems were the single most important problem in the operation of their business by 21% of small business owners, inflation as 15% as the leading problem.
Labor quality rose 6 points from October, while inflation concerns rose 3 points, suggesting it was a more pressing issue.
Small businesses led November job losses as price uncertainty
The NFB found that small businesses are planning price hikes in the next three months. (Stock)
In November 2024, inflation reduced the quality of labor as one of the most important problems facing small businesses, as it is 20% inflation while 19% refers to the quality of labor.
Looking ahead to the next quarter, 30% of small businesses reported planning Increase the prices over the next three months.
Among small business owners who reported higher profits, 51% identified sales volume as driving the increase in profits, while 18 figures pointed to general seasonal changes and higher sales volumes.
The private sector lost 32,000 jobs in November, ADP said
Federal Reserve Chairman Jerome Powell and Central Bank President (Kent Nishimura/Getty Images)
Of the small business owners reporting low profits, 27% blamed weak sales, with 16% citing Rising physical costsand 12% identified labor costs.
Additionally, the NFIB small business optimism Index rose 0.8 points in November to 99, remaining above its 98-year average. Six parts of the index increased, and three parts of the index increased, and the other 10 parts declined and one was unchanged and one was unchanged and one was unchanged and one was unchanged and one was unchanged and one was unchanged and one was unchanged and one was unchanged.
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An increase among small businesses expecting real sales to be higher was the first factor in the rise in the optimism index. The total percentage of owners who expect higher sales prices for roses 9 points from October to 15%.
