Last week, the Nashville-based National Federation of Independent Business (NFIB) released the 11th edition of its quadrennial report on small business issues and priorities, as well as its monthly Small Business Economic Trends (SBET) report. Inflation and the cost of health insurance continue to be the two biggest issues facing small business owners in the U.S., the NFIB reported in a news release.
“'Cost of health insurance' remains the top challenge for small businesses since 1986,” the Small Business Issues and Priorities Report states. “In 2024, 41% of small business owners cited 'cost of health insurance' as a significant issue, down 10 percentage points from 2020. Despite the decrease, the percentage viewing this as a significant issue is 21 percentage points higher than the second highest ranked issue, 'cost of supplies/inventory.' The percentage of small businesses offering health insurance has been steadily increasing since 2017, reversing a nearly two-decade trend of declining offering rates.”
“It's no surprise that the cost of health insurance continues to be a top issue for small business job creators as they find it increasingly difficult to provide the coverage they need for their hard-working employees,” Trey Abney, NFIB's Nevada state director, said in a statement.
