73% of small businesses have grown in past year despite more than half reporting labor challenges, U.S. Bank report reveals
U.S. Bank's 2024 Small Business Perspective report reveals that 73% of American small businesses have grown in the past year, with even higher growth rates for Black (84%) and Hispanic (80%) owners. Despite this growth, 52% of businesses report being understaffed, and 77% face a more competitive labor market. To address these challenges, 83% of owners plan to offer flexible hours for better work-life balance.
The report also highlights the increasing adoption of digital tools and AI solutions, with 75% of owners planning to focus on digital tools in the next year. 60% have already implemented AI or automation solutions. However, 47% of owners worry about their company being replaced by automation. The top macroeconomic stressors for small businesses include competition (73%), economic environment (71%), and inflation (65%).
Il rapporto sulla prospettiva delle piccole imprese del 2024 di U.S. Bank rivela che il 73% delle piccole imprese americane è cresciuto nell'ultimo anno, con tassi di crescita ancora più elevati per i proprietari neri (84%) e ispanici (80%). Nonostante questa crescita, il 52% delle imprese riporta di essere sotto organico e il 77% affronta un mercato del lavoro più competitivo. Per affrontare queste sfide, l'83% dei proprietari prevede di offrire orari flessibili per migliorare l'equilibrio tra vita lavorativa e vita privata.
Il rapporto evidenzia anche l'adozione sempre crescente di strumenti digitali e soluzioni AI, con il 75% dei proprietari che prevede di concentrarsi su strumenti digitali nell'anno prossimo. Il 60% ha già implementato soluzioni di intelligenza artificiale o automazione. Tuttavia, il 47% dei proprietari teme che la propria azienda possa essere sostituita dall'automazione. I principali fattori di stress macroeconomico per le piccole imprese includono la concorrenza (73%), l'ambiente economico (71%) e l'inflazione (65%).
El informe sobre la perspectiva de pequeñas empresas de U.S. Bank para 2024 revela que el 73% de las pequeñas empresas estadounidenses ha crecido en el último año, con tasas de crecimiento aún más altas para los propietarios negros (84%) e hispanos (80%). A pesar de este crecimiento, el 52% de las empresas reporta estar con falta de personal y el 77% enfrenta un mercado laboral más competitivo. Para abordar estos desafíos, el 83% de los propietarios planea ofrecer horarios flexibles para mejorar el equilibrio entre la vida laboral y personal.
El informe también destaca la creciente adopción de herramientas digitales y soluciones de IA, con el 75% de los propietarios planeando enfocarse en herramientas digitales en el próximo año. El 60% ya ha implementado soluciones de IA o automatización. Sin embargo, el 47% de los propietarios teme que su empresa pueda ser reemplazada por la automatización. Los principales factores de estrés macroeconómico para las pequeñas empresas incluyen la competencia (73%), el entorno económico (71%) y la inflación (65%).
U.S. Bank의 2024년 소기업 전망 보고서는 73%의 미국 소기업이 지난 한 해 동안 성장했다고 밝혔으며, 흑인(84%)과 히스패닉(80%) 소유자들은 더욱 높은 성장률을 보였습니다. 이러한 성장에도 불구하고, 52%의 기업이 인력 부족을 보고하며, 77%는 더 경쟁이 치열한 노동 시장에 직면하고 있다고 합니다. 이러한 문제를 해결하기 위해 83%의 소유자가 더 나은 일과 삶의 균형을 위해 유연한 근무 시간을 제공할 계획이라고 합니다.
보고서는 또한 75%의 소유자가 내년에 디지털 도구에 집중할 계획이다며 디지털 도구와 AI 솔루션의 채택이 증가하고 있음을 강조합니다. 60%는 이미 AI 또는 자동화 솔루션을 구현했다고 합니다. 그러나 47%의 소유자는 자신의 회사가 자동화로 대체될까 걱정하고 있다고 합니다. 소기업에 대한 주요 거시 경제적 스트레스 요인은 경쟁(73%), 경제 환경(71%), 인플레이션(65%)입니다.
Le rapport sur la perspective des petites entreprises de U.S. Bank pour 2024 révèle que 73 % des petites entreprises américaines ont connu une croissance au cours de l'année passée, avec des taux de croissance encore plus élevés pour les propriétaires noirs (84 %) et hispaniques (80 %). Malgré cette croissance, 52 % des entreprises signalent être en sous-effectif, et 77 % font face à un marché du travail plus compétitif. Pour relever ces défis, 83 % des propriétaires prévoient d'offrir des heures flexibles afin d'améliorer l'équilibre entre vie professionnelle et vie personnelle.
Le rapport met également en évidence l'adoption croissante des outils numériques et des solutions d'IA, avec 75 % des propriétaires prévoyant de se concentrer sur des outils numériques dans l'année à venir. 60 % ont déjà mis en œuvre des solutions d'IA ou d'automatisation. Cependant, 47 % des propriétaires craignent que leur entreprise puisse être remplacée par l'automatisation. Les principales sources de stress macroéconomique pour les petites entreprises comprennent la concurrence (73 %), l'environnement économique (71 %) et l'inflation (65 %).
Der Bericht über die Perspektive der kleinen Unternehmen von U.S. Bank für 2024 zeigt, dass 73% der amerikanischen kleinen Unternehmen im vergangenen Jahr gewachsen sind, wobei die Wachstumsraten für schwarze (84%) und hispanische (80%) Unternehmer sogar noch höher sind. Trotz dieses Wachstums berichten 52% der Unternehmen von Personalmangel und 77% sehen sich einem wettbewerbsintensiveren Arbeitsmarkt gegenüber. Um diese Herausforderungen zu bewältigen, plant 83% der Unternehmer, flexible Arbeitszeiten anzubieten, um eine bessere Work-Life-Balance zu erreichen.
Der Bericht hebt auch die zunehmende Nutzung digitaler Werkzeuge und KI-Lösungen hervor, wobei 75% der Unternehmer in den nächsten Jahr den Fokus auf digitale Werkzeuge legen wollen. 60% haben bereits KI- oder Automatisierungslösungen implementiert. Dennoch befürchten 47% der Unternehmer, dass ihr Unternehmen durch Automatisierung ersetzt werden könnte. Die größten makroökonomischen Belastungen für kleine Unternehmen sind Wettbewerbsdruck (73%), wirtschaftliches Umfeld (71%) und Inflation (65%).
- 73% of small businesses reported growth in the past year
- 84% of Black-owned and 80% of Hispanic-owned small businesses experienced growth
- 75% of owners plan to focus on digital tools in the next 12 months
- 60% of small businesses have already implemented AI or automation solutions
- 83% of owners plan to offer flexible hours to support work-life balance
- 52% of small businesses report being understaffed
- 77% face a more competitive labor market
- 65% struggle to increase employee salaries to keep pace with inflation
- 47% of owners worry their company could be replaced with automation
- 49% of owners say top stressors are delaying their ability to grow their business
Insights
The U.S. Bank 2024 Small Business Perspective report reveals a robust growth trend among small businesses, with
- Labor market issues, with
52% reporting understaffing - Inflationary pressures affecting
65% of businesses' ability to increase salaries - Macroeconomic stressors like competition (
73% ) and inflation (65% )
The adoption of digital tools and AI solutions (
The report highlights a significant technological shift in small businesses operations. Key findings include:
75% plan to focus on digital tools in the next year68% see benefits in AI and automation60% have already implemented AI or automated solutions
This rapid adoption of technology, particularly AI, could lead to increased productivity and competitiveness. However, it's important to note the concerns around job displacement, with
The survey reveals intriguing demographic trends in small business growth and technology adoption:
- Black and Hispanic-owned businesses are outpacing overall growth
- Younger employees (Gen Z and Millennials) are 1.5 times more concerned about job displacement due to automation
These findings suggest a shifting small business landscape with increased diversity and a generational divide in technology perception. The high percentage (
Small business owners are embracing digital tools and AI/automated solutions to help their businesses run more efficiently.
Gen Z and Millennial employees are 1.5 times more likely to feel worried about their job being replaced by automation than older generations. (Graphic: Business Wire)
According to the 2024 survey findings, many
At the same time, owners are embracing digital tools, with three quarters (
“Small business owners continue to show resilience and optimism despite feeling impact from ongoing stressors such as the economy, changing labor market dynamics, higher prices and wages, and other macroeconomic factors,” said Shruti Patel, chief product officer for business banking at
This survey includes input from 1,000 small business owners and 1,000 small business employees, as well as an additional sample of 300 Hispanic and 300 Black owners.
Small business owner top stressors and their impacts
Small business owners reported their top five macroeconomic stressors this year as:
-
Competition (
73% ) -
Economic environment (
71% ) -
Inflation and the increased costs of materials/supplies (
65% ) -
Supply chain disruptions (
47% ) -
Obtaining enough funding to support their business (
42% )
In an election year, almost a third (
When considering the implications of their top stressors, nearly half (
Digital tools and technologies: Embracing the future
Small business owners and employees understand the critical role digital tools play in enhancing their business success and efficiency. They also find AI and automated solutions to be an exciting prospect, but both have some apprehension.
About 7 in 10 (
While
For an in-depth look at the insights of the nation’s small business owners and employees, please read the full 2024
Methodology
20-minute survey among 1,000
About
U.S. Bancorp, with more than 70,000 employees and
Disclosures: Deposit products are offered by
View source version on businesswire.com: https://www.businesswire.com/news/home/20240823505000/en/
Rick Rothacker,
richard.rothacker@usbank.com
Anna Christensen,
anna.christensen@usbank.com
Source: U.S. Bancorp
FAQ
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