U.S. small businesses most important problem 2024

Published by Statista Research Department, Sep 11, 2024

During a survey on small businesses in the U.S. in August 2024, about 21 percent of the respondents stated that the most important problem for small businesses was quality of labor. Additionally, around 24 percent of survey participants said that inflation was the most important problem for their business, a slight increase from August 2023, when inflation was the biggest concern for 23 percent of businesses.

Single most important problem for small businesses in the United States in August 2024

CharacteristicAugust 2024August 2023
Inflation 24% 23%
Quality of labor 21% 24%
Taxes 13% 17%
Cost of labor 9% 8%
Government regulations 8% 8%
Poor sales 8% 5%
Cost/availability of insurance 6% 5%
Competition from large businesses 5% 4%
Finance & interest rates 4% 2%
Other 1% 4%
Showing entries 1 to 10 (10 entries in total)
Created with Highcharts 7.2.2Share of respondents23%23%24%24%17%17%8%8%8%8%5%5%5%5%4%4%2%2%4%4%24%24%21%21%13%13%9%9%8%8%8%8%6%6%5%5%4%4%1%1%August 2024August 2023InflationQuality of laborTaxesCost of laborGovernment regulationsPoor salesCost/availability of insuranceCompetition from large businessesFinance & interest ratesOther
0%2%4%6%8%10%12%14%16%18%20%22%24%26%28%

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Release date

September 2024

Region

United States

Survey time period

August 2024

Number of respondents

1,313 respondents

Special properties

small business owners or members

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