National Write Your Congressman Finds Half of Small Business Owners Benefitting from Federal Infrastructure Bill, Supply Chain Largest Concern
Published Monday, November 22, 2021
DALLAS – November 22,
2021 –
National Write Your Congressman (NWYC), an organization that gives small
businesses a voice in government, released its Q3 2021 Quarterly Index which
found half of small business owners benefitting from the federal infrastructure
bill. NWYC also found just a quarter of small businesses planning to grow their
business this year, a decrease of almost 50 percent from last quarter. Eighty-five percent of small business owners
are having issues with the supply chain.
“Business
owners had great optimism at the beginning of 2021 and into Q2 as local
economies were opening back up, but due to many factors including inflation,
rising costs, and supply chain issues, the optimism has waned, and fewer
business owners are planning to grow,” said Randy Ford, President, and COO of
National Write Your Congressman.
Businesses
benefitting from the infrastructure bill listed improved transportation
infrastructure (34 percent),
improved seaport infrastructure (23 percent), an update of the
country’s electric transmission system (22 percent), and access to high-speed
broadband internet in rural areas (19 percent) as the top four aspects of
the federal infrastructure bill that would help their business.
Ninety-six
percent of business owners said inflation is affecting business costs and
pricing for products/services and 84 percent of business owners have seen a
disruption in their normal timeline of services, operations, or manufacturing
due to problems with the supply chain. Out of those who are having issues with
the supply chain, 40 percent are not able to fulfill customers’ orders.
“Many
small business owners are now seeing the importance of making their voices
heard as federal bills that directly affect their bottom line are passed,” said
Ford. “We know that each industry is impacted in different ways, and we
continue to encourage our members to continue to advocate for their business
even in times of uncertainty and limitations in the U.S. economy.”
The
State of Small Business
Twenty-seven
percent of business owners said their business has remained flat this quarter,
while 30 percent of businesses are at pre-pandemic levels and a quarter of businesses
are exceeding pre-pandemic levels. Twenty-eight percent of business owners are
uncertain about their business’ future and 26 percent plan to cut expenses to
keep business afloat, an increase from Q2 2021.
In
Q2 2021, business owners’ top concerns were hiring qualified workers (28
percent), followed by taxes (19 percent), COVID-19’s effect on their business
(12 percent), and regulations (10 percent).
In
Q3 2021, business owners’ top concerns were securing
supplies and inventory to keep up with their company’s operations/productions
(24 percent), followed by hiring
qualified workers (17 percent), taxes
(16 percent), and keeping up with the
rising costs of their employees’ pay/salary (12 percent).
Congressional
Sentiment
Congressional
sentiment grew slightly from last quarter. Fifty-nine percent of small business
owners said they are confident their U.S. Congressional Members know their opinions on important
issues, a percentage point increase from last quarter. Thirty-eight percent
believe their own elected U.S. Congressional Members act according to their
constituents' input. Thirty-nine percent of small business owners surveyed said
they trust the elected U.S. Congressional Members who represent them.
NWYC’s Quarterly Index Score
increased with an overall increase in hope, satisfaction, and trust in
Congress. Members’ trust, hope, and satisfaction with their local
government was highest compared to their satisfaction, hope, and trust in state
and national government.
NWYC
provides members with non-partisan information and research along with the
tools they can use to connect with their representatives in Washington and
advocate for the policies and actions that will help their small businesses be
successful for their families, their employees, and their communities.
Past NWYC Indexes
Methodology
NWYC
collected data using an online survey administered from November 5 to November
15, 2021. A total of 1,109 respondents participated. Respondents represent 47
of the 50 states in the U.S. Fifty-nine percent of business owners surveyed
employ 1-9 employees and 38 percent employ 10-99 employees.
About
National Write Your Congressman
National
Write Your Congressman (NWYC) is an organization that gives small businesses a
voice in American government. As the nation’s largest, privately held,
nonpartisan membership organization made up of small businesses, NWYC is
dedicated to the delivery of constituent opinions to representatives in
Washington. For more than 60 years, NWYC has provided small business owners and
operators the tools necessary to connect with members of Congress and a
platform to let their collective voice be heard. NWYC’s team of experts
provides unbiased, nonpartisan information and research on top issues and
pending legislation relevant to small business owners today. NWYC presents both
sides of the issue so that members can form an educated opinion and let their
opinions be heard.
