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Top 3 challenges for small businesses were:
Biggest Challenges For Small vs Micro Businesses:
The main challenges they face are with hiring and retaining talent, access to capital, sales and marketing to generate demand, make up their lost revenue from the past two years, and address supply chain issues from global impact of the pandemic. Needs vary by size of business, capital is #1 for the smallest and hiring is #1 for the biggest small businesses.
The major assets available to small businesses to support their businesses across the state were:
Top needs for small businesses were:
For your convenience, MEDC has included the full compilation of the survey findings below.