“Small businesses in the U.S. are feeling less optimistic as they continue to deal with a slowdown in sales and inflationary pressures, the National Federation of Independent Businesses (NFIB) found. According to the NFIB, the sector’s sentiment index decreased by nine-tenths to 88.5 in March, reaching its lowest level since December 2012. The decline in part means that business owners are still dealing with lingering woes tied to the covid-19 pandemic, which placed significant stress on small businesses.” (Via Quartz)
If you would like more context on this matter, please consider Kathy Korman Frey, an industry instructor of entrepreneurship and the director of the Center For Entrepreneurial Excellence at the George Washington University School of Business. She helped develop and currently teaches Women’s Entrepreneurial Leadership (WEL) at GW Business. Frey is the founder of the edtech social venture The Hot Mommas Project, the world’s largest women’s case study library providing access to diverse, teachable, scalable role models and mentors from around the world. Her areas of expertise include entrepreneurship, women and business, venture funded start-up, market and acquisition (buy-side) research, and edtech.
Korman Frey says there are a number of factors at play here, including some uncertainty with the upcoming election when it comes to tax policies. She also says that as positive economic indicators go, unemployment remains low so this truly points to inflation.
“The people and businesses who seem to be weathering these changes are ‘pivot masters’,” Korman Frey says. “They are changing the way they communicate with and approach both their customers as well as their supply chain to 'break through' some of the 'holes' left post Covid. (Nooooooo! We thought we heard the last of the 'supply chain' during Covid…we haven’t.)”
If you would like to speak with Prof. Korman Frey, please contact GW Senior Media Relations Specialist Cate Douglass at [email protected].
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