Last week, the Nashville-based National Federation of Independent Business (NFIB) released the 11th edition of its quadrennial report: the Problems and priorities of small businesses Report and its monthly Small Business Economic Trends (SBET) Report. In a press release, the NFIB reported that inflation and the cost of health insurance continue to be two of the biggest problems facing small business owners in the country.

“The ‘cost of health insurance’ remains the biggest problem facing small businesses, a position they have held since 1986,” said the Problems and priorities of small businesses Report states: “In 2024, 41 percent of small business owners cite ‘cost of health insurance’ as critical, a 10-point decrease from 2020. Despite the decline, the percentage who see this as a critical issue outranks the second highest issue, ‘cost of supplies/inventory,’ by 21 points. The percentage of small businesses offering health insurance has steadily increased since 2017, reversing a nearly two-decade trend of declining offering rates.”

“It’s no surprise that the cost of health insurance remains the biggest problem for small, job-creating businesses as it becomes increasingly difficult to provide their hard-working team members with the insurance coverage they need,” Tray Abney, Nevada director of the NFIB, said in a statement.