Inflation is Top Concern for Small Businesses, According to New Survey

A new survey sponsored by Staples indicates that inflation is the number-one concern for small businesses, followed by supply-chain disruptions. 

The September 2022 HarrisX research poll of 312 small business decision-makers across America found that:

• Inflation is top-of-mind for small businesses, with over half (53 percent) of small business decision makers reporting that cost increases due to inflation have a major impact on their business, more than any other challenges currently faced.
• Supply-chain disruption was the second-most cited challenge, with almost 1 in 3 (30 percent) reporting it as having a major impact on their business.
• Employee turnover and hiring (25 percent), adapting workplaces for hybrid work (17 percent), and encouraging employees to return to work (16 percent) were next on the list of issues affecting small businesses.
• One-in-three (33 percent) of small business decision makers say they lack confidence in their access to the right resources or expertise to address inflation.

Staples CEO John Lederer commented: “Small businesses represent the engine of society and our communities, and what they’re telling us is that they’re having a tough time right now, and many feel they lack support to succeed.”

In response, Staples says it’s launched a new campaign for SMBs, its Staples Business Advantage campaign, aimed at helping address today’s challenges.

With the program, Business Advantage customers save 20 percent until 2023. Customers will gain access to insights and solutions designed to keep teams productive and connected, while empowering businesses to solve problems and navigate today’s working world. This includes:

• Staples offers several ways to save money during inflationary times, including free accounts for unlimited users, spending controls and approval flows, tips to manage rogue spending, and competitively priced private-label items.
• Staples offers next-day delivery to 98 percent of the U.S. and one-hour buy-online-pick-up-in-store options in more than 1,000 stores.
• Human Advice:  Staples has 2,000 expert personnel on call and 20,000 associates in Staples stores.

The small business leaders survey was conducted by HarrisX for Staples September 21 -26 with a sample size of 312 small business decision-makers at companies with 1 to 500 employees. The margin of error was +/- 5.5 percent.