Source: Nerdwallet | Repot QBScott 1/11/2022 –
Small-business owners looked to 2021 as a chance to rebound and rebuild from nearly a year of coronavirus-induced losses. Instead, many were dealt repeated blows with supply chain backups, unfilled “hiring” signs and renewed restrictions and mandates.
The year wasn’t a complete bust, though. Entrepreneurship grew at a record pace in 2021, with more than 4.6 million applications for new businesses filed through October 2021, according to business formation statistics from the U.S. Census Bureau.
And shoppers continued to rally behind their local small businesses: Compared with pre-pandemic, 40% of Americans were still making an increased effort to shop small and shop local as businesses reopened and pandemic restrictions eased, according to an August 2021 survey by NerdWallet conducted online by The Harris Poll.
So, what does 2022 hold for small-business owners? Will supply chain issues ease? Will hiring pick up? And what’s in store for business lending absent two of the Small Business Administration’s main COVID-19 relief programs?
NerdWallet’s business writers touch on those topics and more with their predictions for the coming year.
Author: Scott Meister, CPA
I help small businesses, accountants, bookkeepers, office managers, and business owners with their accounting needs. I’ve used QuickBooks since 2002 and train folks on how to use it efficiently. I create high-quality video training tutorials for QuickBooks and post them on QBScott.com.
Certifications include: Certified Public Accountant (CPA) | Certified Bookkeeper (CB) | Advanced Certified ProAdvisor for QuickBooks Desktop | Advanced Certified ProAdvisor for QuickBooks Online | Certified ProAdvisor for QuickBooks Enterprise | Certified ProAdvisor for QuickBooks Point Of Sale