Over the last six months, supply-chain issues have been the top concern for small-business owners, according to the latest PNC semi-annual Economic Outlook survey of small and mid-size business owners and executives.
One-third of owners said in January that supply chain timeliness worsened in the previous six months, but 57 percent expect timeliness to improve within the next six months.
A total of 28 percent of businesses that rely on inventory have not had enough supply to meet expected demand.
Supply-chain disruptions varied by industry. Manufacturing experienced the largest disruptions at 56 percent of survey participants, followed by wholesale/retail at 51 percent and construction at 38 percent.
“Supply chain problems have been a big contributor to the highest inflation the U.S. has seen in almost 40 years,” PNC Chief Economist Gus Faucher said. But it is encouraging that most small businesses see supply chain problems easing in the months ahead, which would contribute to a slowing in inflation. The wild card now is how long high energy prices and other inflationary factors due to the Ukraine crisis last.”
The PNC Financial Services Group, a diversified financial services company, interviewed 500 owners of small- and mid-sized businesses with self-reported revenue of $100,000 to $250 million.