NFIB Says 5% of Small Business Owners’ Access to Capital is #1 Challenge

Two percent of owners reported that all their borrowing needs were not satisfied. Twenty-three percent reported all credit needs met and 64% said they were not interested in a loan. A net 7% reported their last loan was harder to get than in previous attempts. Five percent of owners said that financing was their top business problem. A net 22% of owners reported paying a higher interest rate on their most recent loan.

Other Key findings include:

  • Twenty-two percent of owners reported that inflation was their single most important problem in operating their business, down one point from last month.
  • Owners expecting better business conditions over the next six months was unchanged from September at a net negative 43% (seasonally adjusted).
  • A net negative 17% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, down nine points from September and the lowest reading since July 2020.
  • Forty-three percent (seasonally adjusted) of owners reported job openings that were hard to fill, unchanged from September and remains historically very high.
  • Seasonally adjusted, a net 24% plan to raise compensation in the next three months, up one point from September.
  • The frequency of reports of positive profit trends was a net negative 32%, down eight points from September.
  • The net percent of owners who expect real sales to be higher increased three points from September to a net negative 10%.

Read NFIB’s Report Here