With a possible recession on the horizon, growth normalizing, continued supply chain issues, and a tight labor market, navigating the remainder of 2022 and 2023 will be tricky for small businesses.
As SWBC’s Chief Economist, it’s my job to keep my pulse on the economic forces impacting businesses and development. In this post, I’ll discuss the economic headwinds and tailwinds small business owners are facing and give them an idea of what to expect for the rest of the year and into the next.
- The U.S. economy is likely headed for a recession within the next 12 months
- As a result, hiring and business expansion will likely slow or turn negative
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