Hiring Crunch Drags Down Small Business Revenues

Hiring Crunch Drags Down Small Business Revenues
A 'Help Wanted' sign is posted beside COVID-19 safety guidelines in front of a restaurant in Los Angeles on May 28, 2021. Frederic J. Brown/AFP via Getty Images
Tom Ozimek
Updated:

Even as large corporations such as Target are posting forecast-beating earnings and reporting little difficulty attracting talent, smaller businesses say they’re struggling to hire workers, hurting their bottom line.

A new survey by Salesforce (pdf) shows that 53.3 percent of small and medium-sized businesses said staffing issues have been a drag on revenues. For those businesses that said hiring woes were pressuring profits, 56.6 percent reported a hit to revenues of at least 11 percent.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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